To combat money laundering (ML)/terrorist financing (TF), Pakistan has joined the Asia Pacific Group in May 2000. Pakistan has ratified and adopted twenty United Nations conventions and resolutions on organized and related crimes. However, these efforts were futile due to deficient legislation and insubstantial implementation caused by a lack of political commitment and will. Although a multi‐agency approach for investigation and enforcement is in place to fight against ML/TF, the geographical location and variety of Pakistan's borders are natural obstacles in implementing a sustainable anti‐money laundering (AML)/counter financing of terrorism regime. Further, the mutual evaluation report stated that Anti‐money Laundering Act (AMLA) 2010's development demonstrates many inconsistencies and deficiencies, resulting in a feeble AML regime. FTAF has endorsed flaws in AMLA and related laws pointed by APG. Pakistan has convicted only one launderer on the implementation front, and assets confiscation is also negligible under AMLA. Moreover, without clarity and harmonization in AMLA, Pakistan finds it difficult to secure a stable position in financial action task force (FATF).