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'US approaches FATF to put Pak on global terrorist financing watch list'

Press Trust of India  |  Washington 

The US has approached an international group to place on global terrorist-financing watch list, accusing of not complying with the resolutions relating to terror groups including and its affiliates, a top State Department said today. US Donald Trump, in his first tweet of 2018, had lashed out at for providing safe havens to terrorists and accused it of "lies and deceit" and of fooling US leaders while sheltering terrorists. Unveiling his new policy in August last year, Trump had warned of tougher measures against if it failed to cooperate with the US in the fight against terror. The US has consistently expressed our long-standing concern about ongoing deficiencies in Pakistans implementation of its anti-money laundering/counter-finance (AML/CFT) regime, a State Department told amid from that the US has approached the (FATF) in this regard. In addition to broader systemic concerns, this also includes Pakistans non-compliance with its commitments under Resolution 1267, the said. The resolution asks member countries to freeze the assets of, prevent the entry into or transit through their territories by, and prevent the direct or indirect supply, sale and transfer of arms and military equipment to any individual or entity associated with al-Qaida, Osama and/or the as designated by the Committee. The State Department statement reflected that has not been implementing this. The FATF is scheduled to meet later this month, wherein move is up for discussion. The State Department, however, refrained from giving any further details. The February Plenary of the intergovernmental (FATF) will be determining appropriate next steps regarding Pakistan, the said. The FATF discussions are confidential and there will be no publicly released information until there is a FATF Plenary decision that should be publicly identified.

Confidentiality of the FATF internal deliberations and documents are very important and core to the deliberative process, the added. The FATF maintains grey and black lists for identifying countries with weak measures to combat money laundering and terror financing. The watchdog does not have the powers to impose sanctions on a country found not meeting the required standards. However, its listing can affect international transactions from the country concerned as those would then become subject to greater scrutiny. This will increase the cost of doing international transactions and ultimately higher cost of doing business locally.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 14 2018. 01:00 IST
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