Asia-Pacific Group (Apg) On Money Laundering retains Pakistan on its ‘Enhanced Follow-Up’ list
Part of: GS Prelims and GS-II – International Relations
In news
Due to Pakistan’s minimal progress in combating money laundering and terror financing, the Asia-Pacific Group (APG) on Money Laundering has retained the country on its ‘Enhanced Follow-Up’ list.
Key takeaways
According to APG, Pakistan will remain in the enhanced follow-up list.
It will also have to continue to report back to the APG on progress to strengthen its implementation of comprehensive measures.
Pakistan is desperate to move out of ‘grey list’ because its inclusion in the list has severely impacted its economy and image.
Pakistan was placed in the grey list in June 2018.
Important value additions
Asia-Pacific Group (APG) on Money Laundering
APG is a regional affiliate of the Paris-based Financial Action Task Force (FATF).
Secretariat: Sydney, Australia.
Foundedin: 1997 in Bangkok, Thailand
It currently consists of 41 member jurisdictions in the Asia-Pacific region.
