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Remaining on the gray list of terrorist financing, 6 conditions fail: Resources

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Pakistan has failed to meet six key FATF obligations, Indian sources said.

New Delhi:

India expects Pakistan to remain on the “gray list” of the global money laundering and terror financing watchdog with not only more than 4,000 terrorists disappearing from its records, but the country also gives permission to the two most wanted terrorists of New Delhi – Maulana Masood Azhar and Hafiz Saeed, government sources said on Sunday.

“Since 4,000 terrorists disappeared from his 1V schedule. The FATF (Financial Action Task Force) will not allow Pakistan to be removed from the gray list,” a senior bureaucrat told NDTV.

According to him, Pakistan has also failed to meet six key obligations. “The FATF had given Pakistan a total of 27 action plan obligations to fully control terrorist financing, of which it has so far cleared 21 but failed in some of its key tasks,” he said.

The four nominating countries US, UK, France and Germany are also not fully satisfied with the fulfillment of Pakistan’s wishes in Afghanistan and this will also go against the country, he added.

“These four countries are not satisfied with Islamabad’s commitment to take strong action against terrorist groups operating from its territory,” the official said.

The FATF will host a virtual plenary between October 21-23. The meeting will receive a final call for Pakistan to continue on the black list after a thorough review of Islamabad’s performance in meeting global commitments and standards in the fight against money laundering and terrorist financing.

Masood Azhar, Hafiz Saeed and Zakiur Rehman Lakhvi are the most wanted terrorists in India for their involvement in several terrorist attacks including the 26/11 Mumbai attack and the bombing of the CRPF bus in Pulwama in Jammu and Kashmir last year.

With Pakistan remaining on the blacklist, it has become increasingly difficult for it to obtain financial assistance from the International Monetary Fund (IMF), the World Bank, the Asian Development Bank (ADB) and the European Union, exacerbating problems for the country. immersed in money.

The FATF will also judge whether the competent authorities in Pakistan are taking sufficient action against illegal money transfer or value services and have tightened access points used for illegal financing.

The FATF plenary was scheduled for earlier in June, but Pakistan took a deep breath as the global financial crime watchdog temporarily postponed all assessments and follow-up deadlines following the COVID-19 pandemic.

The observer also set a general pause in the review process, thus giving Pakistan an additional four months to meet the requirements.

To avoid the blacklist, it needs the support of three countries and has had the continued support of China, Turkey and Malaysia to avoid labeling. Currently, North Korea and Iran are on the FATF blacklist. Pakistan needs 12 votes out of 39 to get off the gray list and move on to the white list.

Pakistan was blacklisted by the FATF in June 2018 and given an action plan to complete it by October 2019. Since then, the country continues to be on that list due to its failure to meet FATF mandates.

The FATF is an intergovernmental body established in 1989 to combat money laundering, terrorist financing and other threats related to the integrity of the international financial system.

The FATF currently has 39 members, including two regional organizations – the European Commission and the Gulf Cooperation Council.

India is a member of the FATF Consulting and its Asia-Pacific Group.

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