You are here: Home » News-ANI » International » World
Business Standard

Terror-financing watchdog says Pakistan not complying with curbs

ANI  |  Lahore [Pakistan] 

Pakistan is still under the scanner of the Financial Action Task Force (FATF), an international watchdog tracking terror financing, saying that Islamabad is not fully complying with curbs against terror entities listed with the United Nations.

Pakistani officials, however, insist that they have taken significant steps against terror financing and would continue to do whatever is required for the implementation of sanctions against entities designated under the UNSCR 1267.

Tehreek-e-Azadi Jammu and Kashmir (TAJK), a front formed by Hafiz Saeed was quietly banned by the Pakistan government against the backdrop of mounting pressure on Islamabad from an international watchdog.

Pakistan's National Counter-Terrorism Authority added TAJK to the list of organisations proscribed by the interior ministry on June 8.

At a meeting held last week in Valencia, Spain, the FATF referred Pakistan to its regional affiliate, Asia/Pacific Group on Money Laundering (APG), for further analysis and a follow-up report.FATF's International Cooperation Review Group (ICRG), has requested the APG to provide the revised follow-up report on Pakistan after discussing it at its (APG's) annual meeting scheduled for July.

Hafiz Saeed was placed under house arrest on Jan 30, ahead of the FATF meeting in February. Asia/Pacific Group on Money Laundering reported that: "there continue to be certain UNSCR 1267 designated entities that receive and disperse funds without controls being applied by the competent authorities."

The Lashkar-e-Taiba, the JuD's military outfit, the Jaish-e-Mohammed and Pakistani Taliban are also among the 65 organisations banned by the interior ministry. It was, once again, deemed insufficient to clear the ICRG's doubts and Pakistan's case was sent back to the APG

The ICRG further decided to ask Pakistan for its compliance report on the implementation of UNSCR 1267 in case the APG decided against sending a revised report, the Dawn reported. It should be recalled that on previous occasions, the APG had sent its un-adopted report to the ICRG. The ICRG would once again take up Pakistan's case at its meeting in October.As per the report, certain entities designated under UN Security Council Resolution 1267 continue to receive and disperse funds without controls being applied by the competent authorities in Pakistan.

The Pakistan government has taken a number of measures to squelch terror financing, including freezing over 100 bank accounts of UN-listed entities and individuals. But India along with some other countries remain concerned about inadequate action against terror groups and terrorists There have also been concerns about fund-raising and seminaries run by the Jaish-e-Muhammad.

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

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, July 01 2017. 14:57 IST