Pakistan to remain in the FATF Grey list as it has not complied with all actions against terror funding & money laundering. Decision at FATF Plenary was taken on the facts pointing towards Pakistan’s state sponsor of terrorism. Embarrassment for Imran Khan and Pakistan Army who preside over such terror funding in South Asia. FATF press briefing at 7:30 pm today.
India on Thursday accused Pakistan of continuing to shelter terror groups and claimed that the country had addressed only 21 of the 27 points of an action plan laid down by global anti-terror financing watchdog Financial Action Task Force.
At a press briefing on Thursday, the Ministry of External Affairs Spokesperson Anurag Srivastava said that Pakistan had not acted fully on FATF’s action plan. “It is understood that Pakistan has addressed only 21 action items so far out of the total 27 points in the FATF action plan,” Srivastava said in response to a question about the possibility of Pakistan being blacklisted by the global watchdog. “Six important action items are yet to be addressed.”
Pakistan continued to provide a safe haven to terrorists and individuals, and has not taken any action against many proscribed by the United Nations Security Council such as Masood Azhar, Dawood Ibrahim, and Zakir-ur-Rahman Lakhvi, Srivastava added.
FATF has issued global, binding standards to prevent the misuse of virtual assets for money laundering and terrorist financing. The standards ensure that virtual assets are treated fairly, applying the same safeguards as the financial sector.
The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society. As a policy-making body, the FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
With more than 200 countries and jurisdictions committed to implementing them. The FATF has developed the FATF Recommendations, or FATF Standards, which ensure a co-ordinated global response to prevent organized crime, corruption and terrorism. They help authorities go after the money of criminals dealing in illegal drugs, human trafficking and other crimes. The FATF also works to stop funding for weapons of mass destruction.
Source: FATF, Scroll, Wikipedia, Social Media sources
