No, Pakistan is not a member of the Financial Action Task Force (FATF).
However, it is important to understand Pakistan's relationship with the FATF. While not a direct member, Pakistan is a member of the Asia Pacific Group (APG) on Money Laundering, which is the largest FATF-Style Regional Body (FSRB). FSRBs like the APG play a crucial role in implementing FATF recommendations at the regional level.
Here's a breakdown:
-
FATF: The Financial Action Task Force is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system. It sets international standards and promotes effective implementation of legal, regulatory and operational measures for combating these threats.
-
APG: The Asia/Pacific Group on Money Laundering is a regional body that operates in cooperation with the FATF. Its primary objective is to ensure that its members implement international standards against money laundering and the financing of terrorism.
-
Pakistan's Involvement: Pakistan has been subject to increased monitoring by the FATF in recent years due to concerns about its anti-money laundering and counter-terrorist financing (AML/CFT) regime. While Pakistan has made significant progress in addressing these concerns, it is not a member of the FATF itself. It benefits from the standards set by the FATF and participates in the APG to implement these standards regionally.
In conclusion, Pakistan is not a member of FATF, but it is a member of the Asia Pacific Group (APG), a FATF-Style Regional Body, working towards implementing FATF recommendations within its region.
