The Asia/Pacific Group on Money Laundering (APG) is an inter-governmental organisation consisting of 41 members in the Asia-Pacific region, as well as organisations, and observers from outside the region.
Under Article 1 of the APG Terms of Reference 2012, the APG is a non-political, technical body, whose members are committed to the effective implementation and enforcement of the internationally accepted standards against money laundering, financing of terrorism and proliferation financing set by the Financial Action Task Force.
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66. Overall, Pakistan has made some progress in addressing the technical compliance deficiencies identified in its MER and has been re-rated on one Recommendation.
- On the basis of progress made by Pakistan, Recommendation 29 has been re-rated to C. While progress has been made on Recommendation 1, it is not yet sufficient to justify a re-rating. The analysis and rating for Recommendation 6 are subject to a major disagreement and consistent with the APG Mutual Evaluation procedures, consideration of this Recommendation has been referred for in-session discussion at the next APG Plenary meeting and is not considered in this report.
- With respect to the other Recommendations which have been amended after the MER was adopted, Pakistan has retained its ratings for Recommendations 2 and 15.
70. The Pakistan FUR was adopted out-of-session by the APG membership in August 2020. In keeping with APG third round procedures, Pakistan will remain in enhanced (expedited) follow-up, and will continue to report back to the APG on progress to strengthen its implementation of AML/CFT measures.