PAKISTAN MAKES PROGRESS ON TERROR FINANCE RATINGS
- June 22, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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PAKISTAN MAKES PROGRESS ON TERROR FINANCE RATINGS
Subject : International Relations
Context : Pakistan improved its ratings with the Asia Pacific Group (APG) on Money Laundering ahead of a decision on its grey listing status later this month.
Concept :
- Of the 40 parameters on anti-money laundering/combating financing of terrorism (AML/CFT) measures, Pakistan has made progress in about 21 and been downgraded on 1, the APG’s Mutual Evaluation Report (MER) published on June 4 said, adding that this meant Pakistan moves ‘up’ one category in its evaluation at the APG.
Asia-Pacific Group (APG) On Money Laundering
- The Asia/Pacific Group on Money Laundering is an inter-governmental organisation.
- It currently consists of 41 member jurisdictions in the Asia-Pacific region.
- To ensure that its members effectively implement the international standards against money laundering, terrorist financing and proliferation financing related to weapons of mass destruction.
- It is a part of global network of similar bodies, referred to as Financial Action Task Force-Style Regional Bodies (FSRBs) and is the largest in terms of membership numbers and geographical size.
- Secretariat: Sydney, Australia.
- Established in: APG was founded in 1997 in Bangkok, Thailand.