Pakistan has failed to fully implement a UN Security Council resolution against Hafiz Saeed and other UN-designated terrorists, as well as outfits like Jaish-e-Mohammed and the Lashkar-e-Taiba, the Asia-Pacific division of global financial watchdog Financial Action Task Force (FATF) said today. In its 228-page report the agency also said Pakistan had not complied with four of 40 parameters to identify, assess and understand money-laundering and terror-financing risks associated with terror groups operating in and from the country.
The FATF report, which was published on Saturday, comes a week before the agency decides whether or not to retain Pakistan in an “enhanced blacklist” in which it had been included in August after it failed to comply with 32 of the 40 parameters. Pakistan also scored below par on 10 of 11 Immediate Outcome parameters.
“Pakistan has not taken sufficient measures to fully implement UNSCR 1267 obligations against all listed individuals and entities – especially those associated with Lashkar-eTayyiba (LeT) / Jamaat-ud-Dawa (JuD), and Falah-i-Insaniat Foundation (FIF) as well as the groups,” the report read, according to a report by news agency ANI.
“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 such as Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and this should be used to implement a comprehensive and coordinated risk-based approach to combating ML and TF,” the report continued.
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
In June, the agency had warned Pakistan to act decisively against terror-financing by October or face consequences. It had said the country could be blacklisted unless it fulfilled an “action plan” against UN-designated terrorists operating on its soil, highly-placed sources in the Indian diplomatic team said.
Although China came to Pakistan’s rescue on the matter, it did not oppose the final language of the warning issued to the country.
The global watchdog has already put Pakistan on its “grey list” of countries with inadequate controls over curbing money laundering and terrorism financing. Should it be blacklisted, however, Pakistan stands the risk of facing global sanctions.
The country also risks being downgraded by the International Monetary Fund, the World Bank and the Asian Development Bank and facing negative assessments from credit rating agencies such as Moody’s, Standard & Poor’s and Fitch.
India and other member countries of the FATF have charged Pakistan with failing to take concrete action against Hafiz Saeed, Masood Azhar and other UN-designated terrorists, pointing out that its anti-terror law still remains out of sync with standards set by the international body.
“It’s a serious anomaly that Pakistan’s anti-terror law still remains out of sync with FATF standards and also the latest UN resolution 2462, which calls for criminalising terrorist financing. We have pointed this out regularly at plenary sessions,” a senior officer told NDTV in June.
Pakistan contends it has done enough by seizing over 700 properties belonging to the Lashkar-e-Taiba, Jamaat-ud-Daawa, Falah-i-Insaniyat Foundation and the Jaish-e-Mohammed but India and other FATF members have pointed out that seizures do not necessarily indicate compliance.
With input from ANI, IANS
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