ISLAMABAD: The Financial Action Task Force has acknowledged the steps taken by Pakistan towards improving its anti-money laundering and countering financing of terrorism regime.
In its appraisal issued on Friday about Pakistan’s progress, the FATF said the steps taken by Pakistan also include operationalizing the integrated database for its currency declaration regime.
FATF, however, maintained that Pakistan needed to show sanctions were being applied in cases of money laundering and terrorism financing, demonstrate better cooperation between authorities identifying illegal money flows and enhance support for prosecutors, among other measures.
The Paris-based task force also laid out 10-point agenda for Pakistan for further improving its compliance.
Meanwhile, Finance Minister Asad Umar lauded FATF Board for acknowledging Pakistan’s efforts in strengthening its laws and systems related to curbing money laundering particularly terror related financial flows.
In a tweet, he said FATF maintained Pakistan’s current status despite hectic efforts and lobbying to get us black listed.