The Pakistan Army, along with the government and other national institutions, played a critical role in completing the Financial Action Task Force (FATF) action plans, clearing the way for the country’s removal from the global financial watchdog’s grey list, according to the military leader.
Completion of FATF AML /CFT action plans by Pak is a great achievement. A monumental effort paving way 4 whitelisting. “Core cell @ GHQ which steered the national effort & civil – military team which synergised implementation of action plan made it possible, making Pak proud”COAS
— DG ISPR (@OfficialDGISPR) June 17, 2022
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In a Twitter post, DG ISPR Major General Babar Iftikhar said that Pakistan’s completion of FATF’s Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) action plans is a significant achievement and a monumental endeavour that has paved the path for whitelisting.
He reported Chief of Army Staff (COAS) Gen Qamar Javed Bajwa as adding, “Core cell at GHQ [General Headquarters] which directed the national effort & civil-military team which synergized implementation of action plan made it possible, making Pak proud.”
On the directives of the COAS and after discussions with the then-government, a special cell at GHQ led by the DG military operations was established in 2019.
Only five of the FATF points had been accomplished when the military cell took over the job.
To ensure that these policies are implemented, this unit devised a comprehensive process involving more than 30 departments, ministries, and agencies.
The GHQ cell devised a comprehensive strategy and detailed roadmap to address FATF’s concerns, and concluded its action plan far ahead of the global watchdog’s deadlines.
To confront vulnerabilities and threats identified during the National Risk Assessment, the GHQ cell has enhanced its anti-money laundering and counter-terrorist financing system.
During the last 13 months, the army’s money laundering cell saw a considerable increase in ML investigations and prosecutions, reporting more than 800 incidents of money laundering.
Over this reporting cycle, the cell saw significant increases in the number and value of assets confiscated, with a 71 percent increase in the number of assets seized and an 85 percent increase in the value of assets seized.
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