According to the Asia Pacific Group, a regional body of FATF, Pakistan has successfully implemented 31 out of 40 FATF recommendations. In February 2021, Pakistan submitted its third progress report to the APG. Moreover, Pakistan has issued a number of sector-specific legislation, which provides more specific obligations for those sectors to assess and mitigate their risks.
Hammad Azhar, Federal Minister for Energy announce the achievement that Pakistan achieved a compliant rating of the anti-money laundering watchdog. Adding that upgrading 20 FATF criteria in less than two years is unprecedented in FATF history for any country. He said, “This is the parallel scrutiny being undertaken at FATF besides our current action plan.” A total of 17 federal and provincial laws have been adopted in Pakistan in response to the FATF recommendations.
Source: The News