FATF Report Slams Pakistan On Terror
A report card on Pakistan by a global money-laundering watchdog Financial Action Task Force (FATF) has concluded that Pakistan has failed to fully implement UN Security Council Resolution against 26/11 mastermind Hafiz Saeed and other terrorists associated with terrorist groups such as Lashkar-e-Taiba and Jamaat-ud-Dawa.
The Asia-Pacific division of FATF in its Mutual Evaluation Report of Pakistan said it was fully compliant with only one of the FATF’s 40 recommendations on curbing money laundering and terror financing in the country.
"Pakistan has not taken sufficient measures to fully implement UNSCR 1267 obligations against all listed individuals and entities - especially those associated with Lashkar-e-Tayyiba (LeT)/Jamaat-ud-Dawa (JuD), and Falah-i-Insaniat Foundation (FIF) as well as the groups' leader Hafiz Saeed," the report said. After closely scrutinising Pakistan’s progress record on curbing money flows to terrorists and terrorist organisations, FATF said that Pakistan must “identify, assess and understand its money laundering, terror financing risks, including transnational risks and risks associated with terrorist groups” operating from its soil.
"Pakistan has not taken sufficient measures to fully implement UNSCR 1267 obligations against all listed individuals and entities - especially those associated with Lashkar-e-Tayyiba (LeT)/Jamaat-ud-Dawa (JuD), and Falah-i-Insaniat Foundation (FIF) as well as the groups' leader Hafiz Saeed," the report said. After closely scrutinising Pakistan’s progress record on curbing money flows to terrorists and terrorist organisations, FATF said that Pakistan must “identify, assess and understand its money laundering, terror financing risks, including transnational risks and risks associated with terrorist groups” operating from its soil.
According to the report, Pakistan was largely compliant on only nine of the FATF's 40 recommendations and partially compliant on 26 and non-compliant on four. The observations are a major blow to Pakistan which faces the threat of being placed under the FATF’s ‘blacklist’ from the existing ‘grey’. Pakistan had been placed on the "grey list" in June last year and given till October this year to show it had successfully met global standards. The final review of the matter is expected to be done in Paris later this month.Asia Pacific Group (APG) of the Financial Action Task Force (FATF) : Pakistan should adequately identify, assess and understand its ML (Money Laundering)/TF (Terror Financing) risks including transnational risks and risks associated with terrorist groups operating in Pakistan. https://t.co/4hxpoDimOn
— ANI (@ANI) October 7, 2019
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