![]() Out of total 11 Immediate Outcomes -which determine the effectiveness of the AML and CFT frameworks, only on one indicator was effectiveness was found moderately effective and on rest of 10, the rating was ineffective. The sources said that out of 40 universal recommendations of Financial Action Task Force (FATF), Pakistan's rating was partially and non-compliant on 30 recommendations and performance was also below par on 10 as against 11 Immediate Outcomes. Pakistan is now required to submit its performance report to the APG twice a year. "Media reports being circulated about Pakistan being blacklisted by APG are incorrect and baseless", stated Ministry of Finance in a brief statement on Friday, which will follow a detailed press release. The official dismissed Indian media reports that Pakistan was blacklisted by the APG. The report will show improvements in the technical compliance, a top Pakistani official who attended the APG meetings confirmed to The Express Tribune. Under the list, Pakistan would be required to submit report to APG on February 1, 2020. Pakistan's "enhanced monitoring", on the other hand, begins immediately. APG findings will be presented in the FATF Plenary. Islamabad now has six months to show progress as the first enhanced monitoring report will be submitted in February next year to APG. Pakistan's Financial Monitoring Unit (FMU) played an effective role as coordinating agency to highlight areas for improvement on which authorities were required-to focus and address the issues. The APG prepared the Mutual Evaluation Report after two visits to Pakistan during which they exchanged at least four technical annexures with Islamabad - the body provided government ample opportunities to improve the situation. In its Mutual Evaluation Report, the FATF style regional body observed that the effectiveness of Pakistan's Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) regimes were of low level. The Asia Pacific Group on Money Laundering has placed Pakistan on its enhanced monitoring list after Islamabad's performance was found unsatisfactory on three-fourth of the Financial Action Task Force's (FATF) recommendations.
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