Inspectors fault Pakistan for lack on progress on FATF recommendations
ISLAMABAD -- A delegation of the Asia/Pacific Group on Money Laundering (APG), an inter-governmental watchdog, has asked Pakistan to do more to leave the grey list of the Financial Action Task Force (FATF), Dawn reported Wednesday (October 11).
The delegation said it was unimpressed by Pakistan's progress in fighting terror financing, adding that the country has weak institutional arrangements and an insufficient legal framework to combat terror financing.
The delegation pointed to deficiencies in monitoring real estate transactions and commodity trading.
In June, the FATF placed Pakistan on its "grey list" because of "strategic deficiencies" in its ability to counter money laundering and terror financing.