Finance Ministry Rejects Indian Media Reports Of FATF Blacklisting Pakistan

Finance ministry rejects Indian media reports of FATF blacklisting Pakistan

The Ministry of Finance has rejected Indian media reports about Pakistan being blacklisted by the Asia-Pacific Group (APG)

Islamabad (Pakistan Point News / Online - 23rd August, 2019) The Ministry of Finance has rejected Indian media reports about Pakistan being blacklisted by the Asia-Pacific Group (APG).It is pertinent to mention here that the Asia-Pacific Group (APG) is the regional affiliate of the Financial Action Task Force (FATF) and was reviewing Pakistan progress in connection with money laundering.In the press release issued here on Friday, the finance ministry said that the Indian media reports about Pakistan being blacklisted were incorrect and baseless.

It is pertinent to mention here that Indian news media in its reports claimed that Pakistan had been placed on the blacklist. However, no source has been mentioned by the media outlets.The APG has recently completed review of Pakistan's five years measures against money laundering in Australian capital. During the recent APG meeting, the group had adopted Pakistan's Third Mutual Evaluation Report (MER) and had put Pakistan in its enhanced follow-up as per APG's Third Round Mutual Evaluation Procedures.

The body's annual meeting and annual technical assistance forum were held this week from August 18 till August 23. The body members adopted six significant mutual evaluation reports for Pakistan, China, Chinese Taipei, Hong Kong, the Phillippines and the Salomon Island.It is pertinent to mention here that the statement did not mention Pakistan or any other country's placement on the blacklist. The APG also adopted a number of follow-up reports for APG members and for joint APG/FATF members and also agreed on revised evaluation procedures for the coming year reflecting recent changes to global procedures.