AML/CFT MUTUAL EVALUATION FOLLOW-UP REPORTS – BHUTAN AND PAKISTAN

On 2 June, the FATF-style regional body APG has released 2 follow-up reports –

Pakistan

  • the original mutual evaluation report (MER) of Pakistan was published in October 2019;
  • overall Pakistan has made notable progress in addressing the technical compliance deficiencies identified in its MER and has been re-rated on 22 Recommendations;
  • Recommendations 14, 19, 20, 21 and 27 have been re-rated to compliant;
  • Recommendations R.1, 6, 7, 8, 12, 17, 22, 23, 24, 25, 30, 31, 32, 35 and 40 to largely compliant;
  • Recommendation 28 has been re-rated to partially compliant. Insufficient progress has been made to re-rate Recommendation 38;
  • However, compliance with Recommendation 37 has been downgraded to non-compliant;
  • Pakistan will move from “enhanced (expedited) follow-up” to “enhanced follow-up”, and will continue to report back to the APG on progress to strengthen its implementation of AML/CFT measures.  Pakistan submitted its third progress report in February 2021.

http://www.apgml.org/includes/handlers/get-document.ashx?d=30561da3-6a8f-4568-bef3-be259efcd3be

Bhutan

  • This is the 4th follow-up report;
  • The original mutual evaluation report (MER) of Bhutan was adopted in September 2016;
  • Overall Bhutan has made good progress in addressing the technical compliance deficiencies identified in its MER and has been re-rated on 6 Recommendations;
  • On the basis of progress made by Bhutan, Recommendations 3, 6, 20, 26, 30 and 33 have been re-rated to Largely Compliant;
  • However, insufficient progress has been made on Recommendations 4 and 28 to justify re-ratings at this time;
  • With respect to the Recommendations which have been amended since Bhutan’s last FUR, Bhutan has retained its ratings for Recommendations 8, 18 and 21 and was re-rated to Non-Compliant for Recommendation 15;
  • Bhutan has 29 Recommendations rated Compliant/Largely Compliant;
  • Bhutan will remain in enhanced follow-up, and will continue to report back to the APG on progress to strengthen its implementation of AML/CFT measures.

http://www.apgml.org/includes/handlers/get-document.ashx?d=7b95773a-d880-4b68-9ff9-6a8e8884b2a6

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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