PAKISTAN AND CAMBODIA AML/CFT ASSESSMENT FOLLOW-UP REPORTS

On 12 August, FATF-style regional body APG published 2 follow-up reports –

The mutual evaluation report (MER) of Cambodia was adopted in July 2017 and this report analyses Cambodia’s progress in addressing the technical compliance (TC) deficiencies identified in its MER – as is usual with such updates this report does not analyse any progress Cambodia has made to improve its effectiveness. Technical compliance re-ratings are given where sufficient progress has been demonstrated. This report also analyses progress made in implementing new requirements relating to FATF Recommendation 15 which has changed since the MER was adopted.  Cambodia had requested re-ratings of the FATF Recommendations 1, 12, 33, 37, 38 and 40 (which were rated PC) and 7 (which was rated NC).   The APG welcomes the steps that Cambodia has taken to improve its technical compliance with Recommendations 1, 7, 12, 33, 37, 38 and 40 and, as a result of this progress, Cambodia has been re-rated on Recommendations 1, 7, 12, 33, 37 and 38.  However, insufficient progress has been made to justify a re-rating of Recommendation 40.  Cambodia now has 27 Recommendations rated C/LC and 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.  Its next progress report is due 1 February.

http://www.apgml.org/includes/handlers/get-document.ashx?d=0bbf5392-f3f0-476e-8cfd-639383ff37c2

The mutual evaluation report (MER) of Pakistan was published in October 2019, and this report analyses the progress of Pakistan in addressing the technical compliance deficiencies identified in Pakistan’s MER. Technical compliance re-ratings are given where sufficient progress has been demonstrated.  As with the report on Cambodia, and all such follow-up reports, this report does not analyse any progress Pakistan has made to improve its effectiveness.  Pakistan has made good progress in addressing the technical compliance deficiencies identified in its MER and has been re-rated on FATF Recommendations10, 18, 26 and 34. Recommendation 10 has been re-rated to Compliant, and Recommendations 18, 26 and 34 to Largely Compliant.  Overall, in light of the progress made by Pakistan since its MER was adopted, its technical compliance with the FATF Recommendations as of February 2021 is detailed in the following schedule.  Pakistan thus has 35 Recommendations rated C/LC and will remain on enhanced follow-up, and will continue to report back to the APG on progress to strengthen its implementation of AML/CFT measures. Pakistan’s next progress report is due 1 February.

http://www.apgml.org/includes/handlers/get-document.ashx?d=64b2d2b7-bb60-4230-880f-c4aae6f47f27

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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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