Terror funding watchdog FATF Asia-Pacific Group ‘blacklists’ Pakistan

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  1. Asia Pacific group(APG) has placed Pakistan on its Blacklist for its failure in meeting the required global standards and combating terrorism and money laundering. 
  2. Pakistan was non-compliant in 32 of the 40 Compliance Parameters on Money Laundering & Terror Financing and was low in 10 of the 11 Effectiveness Parameters.
  3. In June 2018,Financial Action Task Force(FATF) had already greylisted Pakistan for failing to curb anti-terror financing.
  4. However,the two processes are separate as APG blacklisting status would impair Pakistan’s chances at removing itself from the FATF greylist.
  5. The APG is the FATF-style regional body for the Asia-Pacific region.APG was founded in Bangkok,Thailand in 1997 as an autonomous regional anti-money laundering body by unanimous agreement among 13 original founding members.
  6. The Asia Pacific Group currently consists of 41 members including India.It is focused on ensuring that its members effectively implement the international standards against money laundering,terrorist financing and proliferation financing related to weapons of mass destruction.