Pakistan's failure to exit from Financial Action Task Force's (FATF) grey list is <a href="https://www.wionews.com/south-asia/us-pushes-for-conditionality-in-imf-bailout-package-to-pakistan-228542">a risk to the recently approved International Monetary Fund (IMF) loan</a> worth USD six billion, said Teresa Daban Sanchez, IMF's Resident Representative for the country.

'Failure to exit from the FATF grey list is a risk to the recently approved $6 billion IMF deal...The IMF is responsible for the financial system stability and the FATF-related issues hamper taxation and undermine the banking system,' The Express Tribune quoted Sanchez as saying.

<a href="https://www.wionews.com/south-asia/pakistan-is-facing-economic-woes-due-to-fiscal-mismanagement-general-bajwa-231287">Pakistan is currently grappling with a debt-ridden economy</a>, having secured bailouts (including that from the IMF) to stay afloat. It has been warned by the FATF with repercussions which may include blacklisting if it fails to stop terror financing, amongst other things.

Sanchez further said that an exit from the FATF list is crucial for securing private sector credit to meet external financing needs.

She also added that the FATF greylisting 'undermines capital inflows in addition to affecting the private sector'.

'A potential blacklisting by FATF can result in a freeze of capital inflows to Pakistan, jeopardising the financing assurances under the programme', the Resident Representative stated.

The IMF official highlighted the need for Pakistan to exit from the FATF grey list ahead of the final review of the 27-point implementation plan by the FATF Plenary and the review of Pakistan's Mutual Evaluation by the Asia Pacific Group on Money Laundering.

'The IMF has an obligation to make sure that countries have legal, regulatory and financial frameworks that are compliant with the FATF`s AML/CFT regulations and this decision had been taken by the IMF`s Executive Board a few years ago' Sanchez said.

She also added that Pakistan had shared full details of the China-Pakistan Economic Corridor (CPEC) loans with IMF.

Pakistan's failure to exit from Financial Action Task Force's (FATF) grey list is a risk to the recently approved International Monetary Fund (IMF) loan worth USD six billion, said Teresa Daban Sanchez, IMF's Resident Representative for the country.

Pakistan's failure to exit from Financial Action Task Force's (FATF) grey list is a risk to the recently approved International Monetary Fund (IMF) loan worth USD six billion, said Teresa Daban Sanchez, IMF's Resident Representative for the country. 'Failure to exit from the FATF grey list is a risk to the recently approved $6 billion IMF deal...The IMF is responsible for the financial system stability and the FATF-related issues hamper taxation and undermine the banking system,' The Express Tribune quoted Sanchez as saying. Pakistan is currently grappling with a debt-ridden economy, having secured bailouts (including that from the IMF) to stay afloat. It has been warned by the FATF with repercussions which may include blacklisting if it fails to stop terror financing, amongst other things. Sanchez further said that an exit from the FATF list is crucial for securing private sector credit to meet external financing needs. She also added that the FATF greylisting 'undermines capital inflows in addition to affecting the private sector'. 'A potential blacklisting by FATF can result in a freeze of capital inflows to Pakistan, jeopardising the financing assurances under the programme', the Resident Representative stated. The IMF official highlighted the need for Pakistan to exit from the FATF grey list ahead of the final review of the 27-point implementation plan by the FATF Plenary and the review of Pakistan's Mutual Evaluation by the Asia Pacific Group on Money Laundering. 'The IMF has an obligation to make sure that countries have legal, regulatory and financial frameworks that are compliant with the FATF`s AML/CFT regulations and this decision had been taken by the IMF`s Executive Board a few years ago' Sanchez said. She also added that Pakistan had shared full details of the China-Pakistan Economic Corridor (CPEC) loans with IMF.

Pakistan's failure to exit from FATF grey list poses risk to IMF loan: Official

Outgoing Financial Action Task Force (FATF) president, Marshall Billingslea, has hinted about the possibility to blacklisting Pakistan after the international financial watchdog's meeting in Paris.

"Pakistan had 'significant' work to do. With regard to an action plan agreed in June 2018, they are 'lacking in almost every respect'," Billingslea said at a press briefing.

He added, "Pakistan was cautioned in February at the plenary that they had missed almost all of their January milestones. They were urged to not fail to meet the milestones in May. Unfortunately, Pakistan has yet again missed its May milestones."

FATF has come down heavily on Pakistan for its "lack" of compliance with the 26-point action plan prepared for Islamabad to demonstrate its sincerity in fighting terrorism.

Billingslea said that if Pakistan fails to implement the action plan, FATF will consider the next course of action. The FATF president said that Pakistan is far behind and there is much that the country must do by September this year.

"Now the action plan itself is set to complete in September. So this (the June 16-21 Orlando plenary) was not the plenary where we would discuss a blacklisting issue. This was the plenary where we examine how far behind Pakistan is on its action plan... I must say they are far behind," he said.

On June 23, Pakistan's Army Chief General Qamar Javed Bajwa claimed that the country is doing its best and utilising all available sources to eliminate terrorism from its soil, adding that Islamabad has been moving towards attaining sustainable peace and stability.

"We are doing our best, utilising all available sources to wipe out the enemies of peace and prosperity but it is fact that peace and stability in South Asia was dependent on the resolution of conflicts and disputes in the region", the Nation quoted Bajwa as he was speaking at the International Institute for Strategic Studies in London.

Pakistan is currently on the "grey list" of countries that have been inadequate in curbing money laundering and terror financing. The country has already missed two prior deadlines — in January and May 2019 — to complete their action plan.

Outgoing Financial Action Task Force (FATF) president, Marshall Billingslea, has hinted about the possibility to blacklisting Pakistan after the international financial watchdog's meeting in Paris.

Outgoing Financial Action Task Force (FATF) president, Marshall Billingslea, has hinted about the possibility to blacklisting Pakistan after the international financial watchdog's meeting in Paris. "Pakistan had 'significant' work to do. With regard to an action plan agreed in June 2018, they are 'lacking in almost every respect'," Billingslea said at a press briefing. He added, "Pakistan was cautioned in February at the plenary that they had missed almost all of their January milestones. They were urged to not fail to meet the milestones in May. Unfortunately, Pakistan has yet again missed its May milestones." FATF has come down heavily on Pakistan for its "lack" of compliance with the 26-point action plan prepared for Islamabad to demonstrate its sincerity in fighting terrorism. Billingslea said that if Pakistan fails to implement the action plan, FATF will consider the next course of action. The FATF president said that Pakistan is far behind and there is much that the country must do by September this year. "Now the action plan itself is set to complete in September. So this (the June 16-21 Orlando plenary) was not the plenary where we would discuss a blacklisting issue. This was the plenary where we examine how far behind Pakistan is on its action plan... I must say they are far behind," he said. On June 23, Pakistan's Army Chief General Qamar Javed Bajwa claimed that the country is doing its best and utilising all available sources to eliminate terrorism from its soil, adding that Islamabad has been moving towards attaining sustainable peace and stability. "We are doing our best, utilising all available sources to wipe out the enemies of peace and prosperity but it is fact that peace and stability in South Asia was dependent on the resolution of conflicts and disputes in the region", the Nation quoted Bajwa as he was speaking at the International Institute for Strategic Studies in London. Pakistan is currently on the "grey list" of countries that have been inadequate in curbing money laundering and terror financing. The country has already missed two prior deadlines — in January and May 2019 — to complete their action plan.

FATF chief hints at blacklisting of Pak for terror financing

Financial Action Task Force(FATF) president Marshall Billingslea has<a href="https://www.wionews.com/south-asia/day-after-fatf-warning-pak-army-chief-claims-country-doing-best-to-wipe-out-terrorism-229711"> said Pakistan has to do</a> "significant work to meet the obligations they themselves undertook" as part of there high-level commitments and the country is "lacking in almost every respect of action plan."

Following its greylisting in 2018, Islamabad had made a high-level political commitment <a href="https://www.wionews.com/india-news/india-tells-pakistan-to-take-credible-verifiable-irreversible-measures-on-terror-financing-after-fatf-relief-229407">to work with the FATF</a> to deal with “structural deficiencies” in its anti-money laundering (AML) and combating the financing of terrorism (CFT) or simply put-- acting on the financing of terror.

Speaking at the end of FATF plenary which took place in Orlando, Florida last week and whose audio was provided on Monday, Billingslea said, "There is absolutely a possibility that Pakistan could be put on the blacklist. That is a decision to be taken in future plenary because the period of the action plan has not yet expired, the action plan runs through September of this year."

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The next plenary of FATF will be in Paris in October during which Pakistan will be assessed if it was able to full fill its commitments. Coming strongly on Pakistan, FATF president said, "Pakistan does not appreciate or chooses not to acknowledge the transnational and transborder terrorist financing risk they face."

Pakistan was slammed by the global anti-terror financing body during the Orlando meet last week after failing to meet its commitments twice - first in January 2019 and then May 2019.&nbsp;

Billingslea explained, "Pakistan was cautioned in February at the plenary that they have missed almost all of the January milestones and they were urged not to fail milestones in May. Unfortunately, Pakistan yet again missed the May milestones."

Billingslea added, "The action plan is set to complete in September. So this was not the plenary we were to discuss blacklisting, this was the plenary how far or how far behind Pakistan is on its action plan, and I must say, they are far behind and there is much that must be done, by September."

If Islamabad fails to implement the action plan by September, then the FATF may consider next steps, which includes a possible blacklisting. FATF is a technical body, whose main aim is to protect the international financial system. The 30-year-old body works on the consensus of member countries.&nbsp;

FATF added that it is ready to "provide advice" to International monetary fund(IMF) if requested by the multilateral Washington-based organisation.&nbsp;

IMF is an observer organisation at the grouping and has a detailed understanding about the Pakistani action plan but its board has to decide on what conditionality they will like to apply.

The IMF fund had agreed on a $6bn bailout for Pakistan's beleaguered economy for three years but it has to be approved by the board of the organisation.

This is the thirteenth bailout the South Asian country has got since the 1980s. The last time the Pakistan government got a bailout from the IMF was in 2013.

Financial Action Task Force(FATF) president Marshall Billingslea has said Pakistan has to do "significant work to meet the obligations they themselves undertook" as part of there high-level commitments and the country is "lacking in almost every respect of action plan.

Financial Action Task Force(FATF) president Marshall Billingslea has said Pakistan has to do "significant work to meet the obligations they themselves undertook" as part of there high-level commitments and the country is "lacking in almost every respect of action plan." Following its greylisting in 2018, Islamabad had made a high-level political commitment to work with the FATF to deal with “structural deficiencies” in its anti-money laundering (AML) and combating the financing of terrorism (CFT) or simply put-- acting on the financing of terror. Speaking at the end of FATF plenary which took place in Orlando, Florida last week and whose audio was provided on Monday, Billingslea said, "There is absolutely a possibility that Pakistan could be put on the blacklist. That is a decision to be taken in future plenary because the period of the action plan has not yet expired, the action plan runs through September of this year." The next plenary of FATF will be in Paris in October during which Pakistan will be assessed if it was able to full fill its commitments. Coming strongly on Pakistan, FATF president said, "Pakistan does not appreciate or chooses not to acknowledge the transnational and transborder terrorist financing risk they face." Pakistan was slammed by the global anti-terror financing body during the Orlando meet last week after failing to meet its commitments twice - first in January 2019 and then May 2019. Billingslea explained, "Pakistan was cautioned in February at the plenary that they have missed almost all of the January milestones and they were urged not to fail milestones in May. Unfortunately, Pakistan yet again missed the May milestones." Billingslea added, "The action plan is set to complete in September. So this was not the plenary we were to discuss blacklisting, this was the plenary how far or how far behind Pakistan is on its action plan, and I must say, they are far behind and there is much that must be done, by September." If Islamabad fails to implement the action plan by September, then the FATF may consider next steps, which includes a possible blacklisting. FATF is a technical body, whose main aim is to protect the international financial system. The 30-year-old body works on the consensus of member countries. FATF added that it is ready to "provide advice" to International monetary fund(IMF) if requested by the multilateral Washington-based organisation. IMF is an observer organisation at the grouping and has a detailed understanding about the Pakistani action plan but its board has to decide on what conditionality they will like to apply. The IMF fund had agreed on a $6bn bailout for Pakistan's beleaguered economy for three years but it has to be approved by the board of the organisation. This is the thirteenth bailout the South Asian country has got since the 1980s. The last time the Pakistan government got a bailout from the IMF was in 2013.

Absolute possibility Pakistan could be blacklisted: FATF president Billingslea

Pakistan has failed to complete its action plan on terror financing, the Financial Action Task Force (FATF) said, warning Islamabad to meet its commitment by October or face action, which could possibly lead to the country's blacklisting

FATF comes down strongly on Pakistan

Pakistan's Chief of Army Staff General Qamar Javed Bajwa has claimed that the <a href="https://www.wionews.com/south-asia/pakistan-fails-to-complete-points-given-by-terror-financing-watchdog-fatf-report-227563">country is doing its best </a>and utilising all available sources to eliminate terrorism from its soil, adding that Islamabad has been moving towards attaining sustainable peace and stability.

Bajwa, while speaking at the International Institute for Strategic Studies (IISS) in London on Friday, suggested that all countries should come forward and cooperate with each other in "wiping out terrorism" as it is a common enemy for all.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/india-tells-pakistan-to-take-credible-verifiable-irreversible-measures-on-terror-financing-after-fatf-relief-229407">India tells Pakistan to take 'credible' measures on terror financing after FATF rap&nbsp;</a>

"We are doing our best, utilising all available sources to wipe out the enemies of peace and prosperity but it is fact that peace and stability in South Asia was dependent on the resolution of conflicts and disputes in the region", The Nation quoted Bajwa.

"We suggest to all countries especially our neighbouring nations that come forward and cooperate with each other in wiping out terrorism as it is a common enemy. We have suffered a lot in the past and would not like to be suffered in future. We are pleased to let you know at this platform that Pakistan has been moving towards attaining sustainable peace and stability," Bajwa said while accepting that Pakistan has suffered in the past due to terrorism.

He opined, "Improved security offers foreign investment in Pakistan, a pivot to regional connectivity. However, the future of enduring peace and stability in South Asia hinges on the ability to resolve issues and long pending disputes within the region."

Bajwa, who is on a five-day visit in London, said, "A better security will pave the way for foreign investment in Pakistan and in fact, the foreign investment plays a pivotal role for regional coordination."

The Pakistan Army Chief`s comments come a day after the <a href="https://www.wionews.com/india-news/pak-gets-fatf-rap-after-failing-to-meet-deadline-twice-stays-on-greylist-229332">Financial Action Task Force (FATF) </a>on told the country to "swiftly" complete its action plan to curb terror financing by October or face consequences. The warning was made in a statement issued by the financial watchdog following a plenary meeting in Orlando.

Pakistan is currently on the "grey list" of countries that have been inadequate in curbing money laundering and terror financing.

The country has already missed two prior deadlines -- in January and May 2019 -- to complete their action plan.

"Pakistan should continue to work on implementing its action plan to address its strategic deficiencies. FATF expresses concern that not only did Pakistan fail to complete its action plan items with January deadlines, it also failed to complete its action plan items due May 2019," a statement issued by FATF outlined.

Pakistan's Chief of Army Staff General Qamar Javed Bajwa has claimed that the country is doing its best and utilising all available sources to eliminate terrorism from its soil, adding that Islamabad has been moving towards attaining sustainable peace and stability.

Pakistan's Chief of Army Staff General Qamar Javed Bajwa has claimed that the country is doing its best and utilising all available sources to eliminate terrorism from its soil, adding that Islamabad has been moving towards attaining sustainable peace and stability. Bajwa, while speaking at the International Institute for Strategic Studies (IISS) in London on Friday, suggested that all countries should come forward and cooperate with each other in "wiping out terrorism" as it is a common enemy for all. Also read: India tells Pakistan to take 'credible' measures on terror financing after FATF rap "We are doing our best, utilising all available sources to wipe out the enemies of peace and prosperity but it is fact that peace and stability in South Asia was dependent on the resolution of conflicts and disputes in the region", The Nation quoted Bajwa. "We suggest to all countries especially our neighbouring nations that come forward and cooperate with each other in wiping out terrorism as it is a common enemy. We have suffered a lot in the past and would not like to be suffered in future. We are pleased to let you know at this platform that Pakistan has been moving towards attaining sustainable peace and stability," Bajwa said while accepting that Pakistan has suffered in the past due to terrorism. He opined, "Improved security offers foreign investment in Pakistan, a pivot to regional connectivity. However, the future of enduring peace and stability in South Asia hinges on the ability to resolve issues and long pending disputes within the region." Bajwa, who is on a five-day visit in London, said, "A better security will pave the way for foreign investment in Pakistan and in fact, the foreign investment plays a pivotal role for regional coordination." The Pakistan Army Chief`s comments come a day after the Financial Action Task Force (FATF) on told the country to "swiftly" complete its action plan to curb terror financing by October or face consequences. The warning was made in a statement issued by the financial watchdog following a plenary meeting in Orlando. Pakistan is currently on the "grey list" of countries that have been inadequate in curbing money laundering and terror financing. The country has already missed two prior deadlines -- in January and May 2019 -- to complete their action plan. "Pakistan should continue to work on implementing its action plan to address its strategic deficiencies. FATF expresses concern that not only did Pakistan fail to complete its action plan items with January deadlines, it also failed to complete its action plan items due May 2019," a statement issued by FATF outlined.

Day after FATF warning, Pakistan Army Chief claims 'country doing best to wipe out terrorism'

India on Saturday told Pakistan to take "credible,<a href="https://www.wionews.com/india-news/pak-gets-fatf-rap-after-failing-to-meet-deadline-twice-stays-on-greylist-229332"> verifiable, irreversible and sustainable</a> measures" on the "global concerns" related to "terrorism and terrorist financing" emanating from any territory under its control after Pakistan managed to survive&nbsp;the Financial Action Task Force (FATF) blacklisting scare for the time being.

Reacting to&nbsp;FATF's decision after the Imran Khan-led country failed to meet deadline twice --January and May 2019, India said Pakistan should take "all necessary steps to effectively implement the FATF Action Plan fully within the remaining time frame i.e. by September 2019".

The global counter-terror body on Friday strongly urged "Pakistan to swiftly complete its action plan by October 2019", warning, if Islamabad doesn't comply, "FATF will decide the next step at that time for insufficient progress" which mean a possible blacklisting.

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Being on the greylist impacts the Pakistani economy with $10 billion loss annually.

After being greylisted in June 2018, Pakistan had made high-level political commitments to address its counter-terrorist financing-related deficiencies which basically means to act on the financing of terrorism.

Islamabad was put on the greylisted last year which means the country comes under financial jurisdiction with “structural deficiencies” in "anti-money laundering (AML) and combating the financing of terrorism (CFT)" or simply put-- supports the financing of terror.

This is not the first time India has asked Pakistan to take strong steps to dismantle terror infrastructure. New Delhi and Kabul both have been asking Pakistan to take measures on terror groups on its territory for years now.

India on Saturday told Pakistan to take "credible, verifiable, irreversible and sustainable measures" on the "global concerns" related to "terrorism and terrorist financing" emanating from any territory under its control after Pakistan managed to survive the Financial Action Task Force (FATF) blacklisting scare for the time being.

India on Saturday told Pakistan to take "credible, verifiable, irreversible and sustainable measures" on the "global concerns" related to "terrorism and terrorist financing" emanating from any territory under its control after Pakistan managed to survive the Financial Action Task Force (FATF) blacklisting scare for the time being. Reacting to FATF's decision after the Imran Khan-led country failed to meet deadline twice --January and May 2019, India said Pakistan should take "all necessary steps to effectively implement the FATF Action Plan fully within the remaining time frame i.e. by September 2019". The global counter-terror body on Friday strongly urged "Pakistan to swiftly complete its action plan by October 2019", warning, if Islamabad doesn't comply, "FATF will decide the next step at that time for insufficient progress" which mean a possible blacklisting. × Being on the greylist impacts the Pakistani economy with $10 billion loss annually. After being greylisted in June 2018, Pakistan had made high-level political commitments to address its counter-terrorist financing-related deficiencies which basically means to act on the financing of terrorism. Islamabad was put on the greylisted last year which means the country comes under financial jurisdiction with “structural deficiencies” in "anti-money laundering (AML) and combating the financing of terrorism (CFT)" or simply put-- supports the financing of terror. This is not the first time India has asked Pakistan to take strong steps to dismantle terror infrastructure. New Delhi and Kabul both have been asking Pakistan to take measures on terror groups on its territory for years now.

India tells Pakistan to take 'credible' measures on terror financing after FATF rap 

Pakistan Remains In FATF Greylist, Survives Blacklist Scare. FATF has decided to keep Pakistan in its greylist,. Watch this video to know more.

Pakistan Remains In FATF Greylist, Survives Blacklist Scare

A multinational task force said Friday it is keeping Iran on a financial blacklist for failing to take action to head off funds flowing to terrorists.

The 38-nation Financial Action Task Force (FATF) said it will require more onerous financial oversight if Tehran fails to meet an October deadline for improving its controls.

"The FATF expects Iran to proceed swiftly in the reform path to ensure that it addresses all of the remaining items," according to the statement while welcoming "high-level political commitment" to repair the deficiencies.

Treasury Secretary Steven Mnuchin in a speech Friday called out Iran's "willful failure to address its systemic money laundering and terrorist financing deficiencies."&nbsp;

The country has faced a growing series of US economic sanctions over the past year, as Treasury has blacklisted numerous firms and officials to choke off their access to funds following President Donald Trump's decision to abandon the 2015 nuclear deal negotiated by his predecessor.

Amid rising tensions in recent days after Iran shot down an American drone, Trump early Friday appeared to preview the tougher stance, saying on Twitter that "Sanctions are biting &amp; more added last night."

However, no sanctions were announced.

The FATF said steps that Iran still must take include "adequately criminalizing terrorist financing," "identifying and freezing terrorist assets," and ensuring financial institutions verify wire transfer information.

The task force also called upon all members "to require an increased supervisory examination for branches and subsidiaries of financial institutions based in Iran."

A multinational task force said Friday it is keeping Iran on a financial blacklist for failing to take action to head off funds flowing to terrorists. The 38-nation Financial Action Task Force (FATF) said it will require more onerous financial oversight if Tehran fails to meet an October deadline for improving its controls.

A multinational task force said Friday it is keeping Iran on a financial blacklist for failing to take action to head off funds flowing to terrorists. The 38-nation Financial Action Task Force (FATF) said it will require more onerous financial oversight if Tehran fails to meet an October deadline for improving its controls. "The FATF expects Iran to proceed swiftly in the reform path to ensure that it addresses all of the remaining items," according to the statement while welcoming "high-level political commitment" to repair the deficiencies. Treasury Secretary Steven Mnuchin in a speech Friday called out Iran's "willful failure to address its systemic money laundering and terrorist financing deficiencies." The country has faced a growing series of US economic sanctions over the past year, as Treasury has blacklisted numerous firms and officials to choke off their access to funds following President Donald Trump's decision to abandon the 2015 nuclear deal negotiated by his predecessor. Amid rising tensions in recent days after Iran shot down an American drone, Trump early Friday appeared to preview the tougher stance, saying on Twitter that "Sanctions are biting & more added last night." However, no sanctions were announced. The FATF said steps that Iran still must take include "adequately criminalizing terrorist financing," "identifying and freezing terrorist assets," and ensuring financial institutions verify wire transfer information. The task force also called upon all members "to require an increased supervisory examination for branches and subsidiaries of financial institutions based in Iran."

Financial Action Task Force tightening scrutiny of Iran over terror financing

The Financial Action Task Force(FATF) has announced that Pakistan will remain on the greylist and asked Islamabad to take steps to "address its strategic counter-terrorist financing-related deficiencies" which basically means to act on the financing of terrorism after failing to meet deadline twice.

Being on the greylist impacts the Pakistani economy which loses $10 billion annually.

In a statement issued after the end of the week-long <a href="https://www.wionews.com/world/panama-placed-back-on-fatf-list-economy-minister-varela-229355">plenary of FATF in Orlando</a>, Florida, the grouping "expressed concern that not only did Pakistan fail to complete its action plan items with January deadlines, it also failed to complete its action plan items due May 2019."&nbsp;

It strongly urged "Pakistan to swiftly complete its action plan by October 2019 when the last set of action plan items are set to expire."&nbsp;

Warning, if Islamabad doesn't comply by October 2019, "FATF will decide the next step at that time for insufficient progress" which mean a possible blacklisting.

FATF's Asia-Pacific Group (APG) which had met in China in mid-May wasn't impressed by Pakistan's action on terror financing.

FATF asked Pakistan to work on implementing its ten-point action plan given after June 2018 greylisting to address its strategic deficiencies which include "demonstrating its proper understanding of the terror financing risks posed by the terrorist groups" and "demonstrating that facilities and services owned or controlled by designated person are deprived of their resources and the usage of the resources."

This is a strong message by FATF to Pakistan where a number of UN listed persons such 26/11 mastermind Hafiz Saeed roam&nbsp;freely.&nbsp;

Islamabad was put on the greylist&nbsp;last year which means the country comes under financial jurisdiction with "structural deficiencies"&nbsp;in anti-money laundering (AML) and combating the financing of terrorism (CFT) or simply -&nbsp;supports the financing of terror.

The FATF in its February meet had come hard on Pakistan saying it has not demonstrated a proper understanding of the terror financing risks posed by "Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban."

The Financial Action Task Force(FATF) has announced that Pakistan will remain on the greylist and asked Islamabad to take steps to "address its strategic counter-terrorist financing-related deficiencies" which basically means to act on the financing of terrorism after failing to meet deadline twice.

The Financial Action Task Force(FATF) has announced that Pakistan will remain on the greylist and asked Islamabad to take steps to "address its strategic counter-terrorist financing-related deficiencies" which basically means to act on the financing of terrorism after failing to meet deadline twice. Being on the greylist impacts the Pakistani economy which loses $10 billion annually. In a statement issued after the end of the week-long plenary of FATF in Orlando, Florida, the grouping "expressed concern that not only did Pakistan fail to complete its action plan items with January deadlines, it also failed to complete its action plan items due May 2019." It strongly urged "Pakistan to swiftly complete its action plan by October 2019 when the last set of action plan items are set to expire." Warning, if Islamabad doesn't comply by October 2019, "FATF will decide the next step at that time for insufficient progress" which mean a possible blacklisting. FATF's Asia-Pacific Group (APG) which had met in China in mid-May wasn't impressed by Pakistan's action on terror financing. FATF asked Pakistan to work on implementing its ten-point action plan given after June 2018 greylisting to address its strategic deficiencies which include "demonstrating its proper understanding of the terror financing risks posed by the terrorist groups" and "demonstrating that facilities and services owned or controlled by designated person are deprived of their resources and the usage of the resources." This is a strong message by FATF to Pakistan where a number of UN listed persons such 26/11 mastermind Hafiz Saeed roam freely. Islamabad was put on the greylist last year which means the country comes under financial jurisdiction with "structural deficiencies" in anti-money laundering (AML) and combating the financing of terrorism (CFT) or simply - supports the financing of terror. The FATF in its February meet had come hard on Pakistan saying it has not demonstrated a proper understanding of the terror financing risks posed by "Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban."

Pakistan gets FATF rap after failing to meet deadline twice; stays on greylist

Panama has been placed back on an international money laundering watchlist by the <a href="https://www.wionews.com/india-news/pak-gets-fatf-rap-after-failing-to-meet-deadline-twice-stays-on-greylist-229332">Financial Action Task Force (FATF)</a>, the Central&nbsp;American country's economy minister announced Friday.

"Despite recognising the progress made by Panama and its political commitment at the highest level, the FATF plenary held this week approved that Panama be included" on the list," said the minister, Eyda Varela.

The decision was announced after a meeting of the FATF, the international body that fights against money laundering, in Orlando, Florida this week.

Panama -- a country with a reputation as a money laundering hub that stretches back decades -- was placed on its so-called "greylist" in 2014 after significant flaws were found in the country's financial practices.

It was removed in 2016 after introducing changes to its legal and regulatory framework, but evaluations of its commitments by the international body this week forced a U-turn.

Some 200 members of the FATF attended the Florida meeting, including the United Nations, the International Monetary Fund and the World Bank.

Panama has been placed back on an international money laundering watchlist by the Financial Action Task Force (FATF), the Central American country's economy minister announced Friday.

Panama has been placed back on an international money laundering watchlist by the Financial Action Task Force (FATF), the Central American country's economy minister announced Friday. "Despite recognising the progress made by Panama and its political commitment at the highest level, the FATF plenary held this week approved that Panama be included" on the list," said the minister, Eyda Varela. The decision was announced after a meeting of the FATF, the international body that fights against money laundering, in Orlando, Florida this week. Panama -- a country with a reputation as a money laundering hub that stretches back decades -- was placed on its so-called "greylist" in 2014 after significant flaws were found in the country's financial practices. It was removed in 2016 after introducing changes to its legal and regulatory framework, but evaluations of its commitments by the international body this week forced a U-turn. Some 200 members of the FATF attended the Florida meeting, including the United Nations, the International Monetary Fund and the World Bank.

Panama placed back on FATF list: Economy minister Varela

FATF to announce if Pakistan will be in it's greylist or blacklist. Pakistan is currently facing $10 Bn loss annually. Watch this video to know more.

Big Decision On Pakistan: FATF's Greylist Or Blacklist?

Military Is The Biggest Business Conglomerate In Pakistan. It Runs Over 50 Commercial Entities Over 50 commerical entities worth $20 Billion, Pakistan's military has its fingers in every pie. In fact, the military is the biggest business conglomerate in the country. Palki decodes the extending reach of Pakistan's army

Gravitas: From bread to real estates: The extending reach of Pakistan army

Evolution Of Pakistan's Military Is it an army or a corporate? Pakistan army's business interests exceed $100 Billion. Here's a report charting the evolution of Pakistani army as the biggest economic and political force in the country.

Gravitas: Pakistani army is like a corporate

Pakistan Attempts To Prove That It's Acting Against Terror Financing In its bid to appease FATF, Pakistan decides to shift students from schools run by terrorist Hafiz Saeed to government institutions. The government had funded the very same institutions in the recent past. Is this a cosmetic step meant to convince FATF? Will such efforts even work? Palki explains

Gravitas: Pakistan tries to mollify FATF

Imran Khan Promised Naya Pakistan During The Elections. Now After 11 Months As PM, Pakistan Is Going Through A Period Of Economic Crisis & Absolute Chaos Here's a brief look at the 11 chaotic months for Pakistan under the rule of Imran Khan

Gravitas: 11 months of chaos: A look at Imran Khan's tenure

The Financial Action Task Force or the <a href="https://www.wionews.com/south-asia/pakistans-qureshi-briefs-pompeo-about-addressing-fatf-concerns-foreign-office-228266">FATF will announce its</a> decision on whether&nbsp;Pakistan will continue to remain on the grey list which is causing a loss of $10 billion to Pakistan's economy annually or will it be blacklisted.&nbsp;

The week-long plenary of FATF from 16th to 21st June in Orlando, Florida comes to an end on Friday with FATF president Marshall Billingslea set to do a presser at 9:30pm(IST) to decide Pakistan's fate.

While it is certain<a href="https://www.wionews.com/south-asia/pakistan-fails-to-complete-points-given-by-terror-financing-watchdog-fatf-report-227563"> Pakistan will remain on the grey list</a>, the decision on it being blacklisted is something which will be known only later Friday evening.

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Ahead of FATF's decision, Pakistani foreign minister SM Qureshi said, "Going to blacklist would be damaging for Pakistan, we understand its implications. At the diplomatic level, we are trying to avoid such a situation and for this the strategy and homework which was needed to be done, has been done from our end successfully."

On Pakistan being on the grey list, Qureshi said, "This government's desire is that Pakistan should not even be in the grey list of FATF for which certain steps were required and as I have said earlier, we have take a lot of steps...The capacity building, understanding the importance and other things and Inshahallah, we are fighting Pakistan's case in the best possible manner and would continue to do so."

FATF's Asia-Pacific Group (APG) which met in China in mid-May wasn't impressed by Pakistan's action on terror financing.

Islamabad was put on the grey list last year which means the country comes under financial jurisdiction with “structural deficiencies” in anti-money laundering (AML) and combating the financing of terrorism (CFT) or simply - supports terror financing.

Ministry of external affairs spokesperson Raveesh Kumar said,"It is a sensitive matter. It is a matter on which decision is taken by the members of FATF. At this stage, it will not be proper to come up with any expectations or in which direction things will go as far as FATF is concerned."&nbsp;

The FATF in its February meet had come hard on Pakistan saying it has not demonstrated a proper understanding of the terror financing risks posed by "Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban."

The Financial Action Task Force or the FATF will announce its decision on whether Pakistan will continue to remain on the grey list which is causing a loss of $10 billion to Pakistan's economy annually or will it be blacklisted.

The Financial Action Task Force or the FATF will announce its decision on whether Pakistan will continue to remain on the grey list which is causing a loss of $10 billion to Pakistan's economy annually or will it be blacklisted. The week-long plenary of FATF from 16th to 21st June in Orlando, Florida comes to an end on Friday with FATF president Marshall Billingslea set to do a presser at 9:30pm(IST) to decide Pakistan's fate. While it is certain Pakistan will remain on the grey list, the decision on it being blacklisted is something which will be known only later Friday evening. Ahead of FATF's decision, Pakistani foreign minister SM Qureshi said, "Going to blacklist would be damaging for Pakistan, we understand its implications. At the diplomatic level, we are trying to avoid such a situation and for this the strategy and homework which was needed to be done, has been done from our end successfully." On Pakistan being on the grey list, Qureshi said, "This government's desire is that Pakistan should not even be in the grey list of FATF for which certain steps were required and as I have said earlier, we have take a lot of steps...The capacity building, understanding the importance and other things and Inshahallah, we are fighting Pakistan's case in the best possible manner and would continue to do so." FATF's Asia-Pacific Group (APG) which met in China in mid-May wasn't impressed by Pakistan's action on terror financing. Islamabad was put on the grey list last year which means the country comes under financial jurisdiction with “structural deficiencies” in anti-money laundering (AML) and combating the financing of terrorism (CFT) or simply - supports terror financing. Ministry of external affairs spokesperson Raveesh Kumar said,"It is a sensitive matter. It is a matter on which decision is taken by the members of FATF. At this stage, it will not be proper to come up with any expectations or in which direction things will go as far as FATF is concerned." The FATF in its February meet had come hard on Pakistan saying it has not demonstrated a proper understanding of the terror financing risks posed by "Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban."

Pakistan on grey list or black list? FATF to announce decision on Friday

Pakistan plans to shift the students of Mumbai attack mastermind Hafiz Saeed's Jamaat-ud-Dawa (JuD) and Falah-i-Insaniat Foundation (FIF) to the government-run schools after an international terror financing watchdog raised objection over allocation of Rs 180 crore for these institutions.

A senior government official told PTI on Tuesday that the Financial Action Task Force (FATF) had objected the Pakistani government's allocation of Rs 180 crore for running the JuD and FIF schools across the country.

"The government could not satisfy the FATF about running a good number of seminaries and schools of JuD and FIF after taking over their control in March. Therefore, the Imran Khan administration is seriously considering shifting the students of these seminaries and schools to the government-run institutions," he said.

The official said the FATF was apprehensive of the Pakistani government's move to allocate such a huge sum of money for the JuD and the FIF institutions.

"It (FATF) suspected that the government might not be able to dissociate the JuD and the FIF activists associated with these institutions,"&nbsp;he said.

A source in the Punjab government told PTI that the JuD and the FIF activists are somehow associated with their educational institutions the government has taken over.

He said these activists are waiting for "appropriate time"&nbsp;to take back their positions. The government has also taken over the JuD headquarters in Lahore and Muridke and stopped Saeed from entering there.

In first week of March apparently on the international pressure after the deadly Pulwama attack in Jammu and Kashmir, the Pakistani government sealed or took over administrative control of several establishments run by the proscribed Jaish-e-Mohammed (JeM), the JuD and the FIF.

The government initiated action against these organisations after notifying a 2019 order of the United Nations Security Council that provides a legal basis for freezing or seizure of properties owned by individuals and organisations designated by the council as terrorists.

The order was issued to meet the requirements of the FATF regarding the implementation of designation of persons and entities under the UNSC resolutions.

Pakistan, despite making some progress in overcoming the shortcomings in its counter-terrorism financing and anti-money laundering regimes, continues to remain under the cloud at the global illicit financing watchdog.

After failing to adequately convince the FATF, Pakistan is required to complete actions before its next deadline.

Pakistan plans to shift the students of Mumbai attack mastermind Hafiz Saeed's Jamaat-ud-Dawa (JuD) and Falah-i-Insaniat Foundation (FIF) to the government-run schools after an international terror financing watchdog raised objection over allocation of Rs 180 crore for these institutions.

Pakistan plans to shift the students of Mumbai attack mastermind Hafiz Saeed's Jamaat-ud-Dawa (JuD) and Falah-i-Insaniat Foundation (FIF) to the government-run schools after an international terror financing watchdog raised objection over allocation of Rs 180 crore for these institutions. A senior government official told PTI on Tuesday that the Financial Action Task Force (FATF) had objected the Pakistani government's allocation of Rs 180 crore for running the JuD and FIF schools across the country. "The government could not satisfy the FATF about running a good number of seminaries and schools of JuD and FIF after taking over their control in March. Therefore, the Imran Khan administration is seriously considering shifting the students of these seminaries and schools to the government-run institutions," he said. The official said the FATF was apprehensive of the Pakistani government's move to allocate such a huge sum of money for the JuD and the FIF institutions. "It (FATF) suspected that the government might not be able to dissociate the JuD and the FIF activists associated with these institutions," he said. A source in the Punjab government told PTI that the JuD and the FIF activists are somehow associated with their educational institutions the government has taken over. He said these activists are waiting for "appropriate time" to take back their positions. The government has also taken over the JuD headquarters in Lahore and Muridke and stopped Saeed from entering there. In first week of March apparently on the international pressure after the deadly Pulwama attack in Jammu and Kashmir, the Pakistani government sealed or took over administrative control of several establishments run by the proscribed Jaish-e-Mohammed (JeM), the JuD and the FIF. The government initiated action against these organisations after notifying a 2019 order of the United Nations Security Council that provides a legal basis for freezing or seizure of properties owned by individuals and organisations designated by the council as terrorists. The order was issued to meet the requirements of the FATF regarding the implementation of designation of persons and entities under the UNSC resolutions. Pakistan, despite making some progress in overcoming the shortcomings in its counter-terrorism financing and anti-money laundering regimes, continues to remain under the cloud at the global illicit financing watchdog. After failing to adequately convince the FATF, Pakistan is required to complete actions before its next deadline.

Pakistan plans to shift students of JuD schools to government-run institutions

Pakistan has failed to complete 25 of the 27 action points given by the international <a href="https://www.wionews.com/south-asia/pakistan-to-stay-on-fatfs-grey-list-official-to-wion-222508">terror financing watchdog FATF</a> to check funding to terrorist groups such as LeT and JeM and frontal groups like Jamat-ud-Dawah and Falah-e-Insaniat Foundation.

With this, multilateral lenders like the<a href="https://www.wionews.com/south-asia/pakistans-currency-reaches-all-time-low-against-us-dollar-219221"> IMF</a>, the World Bank and the EU may continue downgrading Pakistan, making its financial situation more precarious.

The Paris-headquartered Financial Action Task Force has asked Pakistan to explain whether it has launched any investigation into the seven million US dollars allocated to maintain schools, madrasas, clinics and ambulances originally operated by terror groups like Lashkar-e-Taiba, <a href="https://www.wionews.com/india-news/jk-three-jem-terrorists-shot-in-pulwama-encounter-soldier-civilian-also-killed-219169">Jaish-e-Mohammed</a>, and LeT fronts Jamat-ud-Dawah and Falah-e-Insaniat Foundation.

JuD and FIF are founded by terror mastermind Hafiz Saeed.

LeT is responsible for a number of terrorist strikes in India, including the 2008 Mumbai attacks and the hijacking of an Indian Airlines aircraft to Afghanistan in 1999.

Most recently, it attacked a CRPF bus in Pulwama in Feb this year, killing 40 soldiers.

Pakistan is in deep trouble at the FATF meeting beginning Sunday in Florida in the US, people aware of the development said.

"It has been unable to complete 25 of its 27 action points. It has one last chance, till its 15-month deadline ends in October 2019, when the FATF Plenary will be held," one of them added.

In June 2018, Pakistan was placed in the 'Gray' list and given a 27-point action plan by FATF. This plan was reviewed at the last plenary in October 2018 and for the second time in February this year, when the country was again put into the 'Gray' list after India submitted new information about Pakistan-based terrorist groups.

The FATF continuing Pakistan in the 'Gray' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&amp;P and Fitch.

This will add to the financial problems of Pakistan, which is seeking aid from all possible international avenues.

In a bid to bluff the financial watchdog, Pakistani authorities have shown arrests of LeT, JeM, JuD and FiF cadres. But all were apprehended under its Maintenance of Public Order Act and not under the Anti-Terrorism Act, 1997.

Under the MPO Act, authorities cannot hold a detainee beyond 60 days.

Pakistan has detained JeM founder Masood Azhar and LeT founder Hafiz Saeed mostly under the laws that provide for detention for the apprehension of breach of peace; they have never been prosecuted under anti-terror laws.

The FATF implements UN designations, which do not warrant arrest. They ask only for the freeze of funds, denial of access to weapons and travel embargo. The financial watchdog also wants nations to impose penalties that are proportionate and dissuasive.

The MPO Act is not seen as satisfying either of the two conditions. Therefore, none of these arrests will satisfy the FATF or the UN Designations Committee.

Pakistan has also seized several hundred properties of LeT, JuD, FiF and JeM, including schools and madrasas.

However, these properties are now being run by its provincial governments.

The Punjab provincial government has allocated $2 million (Pakistani Rs 30 crore or Indian Rs 14 crore) per annum for their upkeep. Similarly, other provinces have allocated&nbsp;5 million US dollars.

The annual expense allocated by Pakistan totals $7 million (Pakistani Rs 105 or Indian Rs 49 crore).

The FATF has now asked Pakistan to explain whether there are any terror-funding investigations to unearth the sources and entities that funded these organisations with $7 million per annum for the past several years.

The FATF currently has 35 members and two regional organisations,&nbsp;the European Commission and the Gulf Cooperation Council.

In the last meeting of the FATF in Paris, the FATF said Pakistan should continue to work on implementing its action plan to address its strategic deficiencies, including by adequately demonstrating its proper understanding of the terror financing risks posed by the terrorist groups and conducting supervision on a risk-sensitive basis, demonstrating that remedial actions and sanctions are applied in cases of Anti-Money Laundering and Combating Financing of Terrorism violations and that these actions have an effect on AML/CFT compliance by financial institutions.

Pakistan, it said, should demonstrate that competent authorities are cooperating and taking action to identify and take enforcement action against illegal money or value transfer services, demonstrating that authorities are identifying cash couriers and enforcing controls on illicit movement of currency and understanding the risk of cash couriers being used for terror financing (TF), improving inter-agency coordination including between provincial and federal authorities on combating TF risks besides others.

Pakistan has failed to complete 25 of the 27 action points given by the international terror financing watchdog FATF to check funding to terrorist groups such as LeT and JeM and frontal groups like Jamat-ud-Dawah and Falah-e-Insaniat Foundation.

Pakistan has failed to complete 25 of the 27 action points given by the international terror financing watchdog FATF to check funding to terrorist groups such as LeT and JeM and frontal groups like Jamat-ud-Dawah and Falah-e-Insaniat Foundation. With this, multilateral lenders like the IMF, the World Bank and the EU may continue downgrading Pakistan, making its financial situation more precarious. The Paris-headquartered Financial Action Task Force has asked Pakistan to explain whether it has launched any investigation into the seven million US dollars allocated to maintain schools, madrasas, clinics and ambulances originally operated by terror groups like Lashkar-e-Taiba, Jaish-e-Mohammed, and LeT fronts Jamat-ud-Dawah and Falah-e-Insaniat Foundation. JuD and FIF are founded by terror mastermind Hafiz Saeed. LeT is responsible for a number of terrorist strikes in India, including the 2008 Mumbai attacks and the hijacking of an Indian Airlines aircraft to Afghanistan in 1999. Most recently, it attacked a CRPF bus in Pulwama in Feb this year, killing 40 soldiers. Pakistan is in deep trouble at the FATF meeting beginning Sunday in Florida in the US, people aware of the development said. "It has been unable to complete 25 of its 27 action points. It has one last chance, till its 15-month deadline ends in October 2019, when the FATF Plenary will be held," one of them added. In June 2018, Pakistan was placed in the 'Gray' list and given a 27-point action plan by FATF. This plan was reviewed at the last plenary in October 2018 and for the second time in February this year, when the country was again put into the 'Gray' list after India submitted new information about Pakistan-based terrorist groups. The FATF continuing Pakistan in the 'Gray' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch. This will add to the financial problems of Pakistan, which is seeking aid from all possible international avenues. In a bid to bluff the financial watchdog, Pakistani authorities have shown arrests of LeT, JeM, JuD and FiF cadres. But all were apprehended under its Maintenance of Public Order Act and not under the Anti-Terrorism Act, 1997. Under the MPO Act, authorities cannot hold a detainee beyond 60 days. Pakistan has detained JeM founder Masood Azhar and LeT founder Hafiz Saeed mostly under the laws that provide for detention for the apprehension of breach of peace; they have never been prosecuted under anti-terror laws. The FATF implements UN designations, which do not warrant arrest. They ask only for the freeze of funds, denial of access to weapons and travel embargo. The financial watchdog also wants nations to impose penalties that are proportionate and dissuasive. The MPO Act is not seen as satisfying either of the two conditions. Therefore, none of these arrests will satisfy the FATF or the UN Designations Committee. Pakistan has also seized several hundred properties of LeT, JuD, FiF and JeM, including schools and madrasas. However, these properties are now being run by its provincial governments. The Punjab provincial government has allocated $2 million (Pakistani Rs 30 crore or Indian Rs 14 crore) per annum for their upkeep. Similarly, other provinces have allocated 5 million US dollars. The annual expense allocated by Pakistan totals $7 million (Pakistani Rs 105 or Indian Rs 49 crore). The FATF has now asked Pakistan to explain whether there are any terror-funding investigations to unearth the sources and entities that funded these organisations with $7 million per annum for the past several years. The FATF currently has 35 members and two regional organisations, the European Commission and the Gulf Cooperation Council. In the last meeting of the FATF in Paris, the FATF said Pakistan should continue to work on implementing its action plan to address its strategic deficiencies, including by adequately demonstrating its proper understanding of the terror financing risks posed by the terrorist groups and conducting supervision on a risk-sensitive basis, demonstrating that remedial actions and sanctions are applied in cases of Anti-Money Laundering and Combating Financing of Terrorism violations and that these actions have an effect on AML/CFT compliance by financial institutions. Pakistan, it said, should demonstrate that competent authorities are cooperating and taking action to identify and take enforcement action against illegal money or value transfer services, demonstrating that authorities are identifying cash couriers and enforcing controls on illicit movement of currency and understanding the risk of cash couriers being used for terror financing (TF), improving inter-agency coordination including between provincial and federal authorities on combating TF risks besides others.

Pakistan fails to complete points given by terror financing watchdog FATF: Report

An anti-terrorism court in Pakistan has sentenced three activists of the Masood Azhar-led Jaish-e-Mohammad (JeM) for five years each in jail for arranging funds for the proscribed terror outfit amid pressure from the global community to rein in militant groups.

The Anti-Terrorism Court found the trio guilty in three separate cases on Friday after funds collected for the militant outfit were recovered from them. They were sent to central prison in Gujranwala in Punjab province.

The convicts M Iftikhar, Muhammad Ajmal and Bilal were also fined Rs 45,000, Rs 50,000 and Rs 40,000 respectively besides the sentence.

The Counter Terrorism Department (CTD) in Gujranwala had earlier registered a case against them, the Express Tribune reported.

According to Punjab CTD spokesperson, the investigations and prosecutions "are being followed to stop proscribed organisations from indulging in terror financing."

The spokesperson warned these organisations and their leaders to desist from such acts or action would be taken against them.

Pakistan launched a crackdown against supporters of militant outfits after pressure from the international community to stop support to the militant groups.

Three members of the Mumbai attack mastermind Hafiz Saeed-led Jamaat-ud-Dawa were arrested Thursday on charges of terror financing in Punjab province.

Six JeM members were arrested for allegedly collecting funds for the terror group on Wednesday.

On Monday, three terrorists belonging to the Islamic State (IS) and Lashkar-e-Jhangvi (LeJ) militant groups were arrested by the CTD officials in Pakistan's Punjab province.

Last week, six activists of the JeM and the Lashkar-e-Jhangvi (LeJ) were arrested by the CTD from Gujranwala, Rawalpindi, Multan and Lahore for allegedly collecting funds to finance terrorism.

Paris-based international terror financing watchdog FATF in June last year placed Pakistan onto its watch list in a bid to push the country to halt support for militant groups.

In February, the FATF decided to continue the 'Grey' listing of Pakistan for its failure to stop funding of terrorist groups such as the JeM, the Lashkar-e-Taiba (LeT) and the JuD.

The Pakistan government arrested over 100 members of banned outfits including JeM chief Azhar's son and brother and also taken control of JeM, JuD and FIF's properties including seminaries and mosques across the country.&nbsp;

An anti-terrorism court in Pakistan has sentenced three activists of the Masood Azhar-led Jaish-e-Mohammad (JeM) for five years each in jail for arranging funds for the proscribed terror outfit amid pressure from the global community to rein in militant groups.

An anti-terrorism court in Pakistan has sentenced three activists of the Masood Azhar-led Jaish-e-Mohammad (JeM) for five years each in jail for arranging funds for the proscribed terror outfit amid pressure from the global community to rein in militant groups. The Anti-Terrorism Court found the trio guilty in three separate cases on Friday after funds collected for the militant outfit were recovered from them. They were sent to central prison in Gujranwala in Punjab province. The convicts M Iftikhar, Muhammad Ajmal and Bilal were also fined Rs 45,000, Rs 50,000 and Rs 40,000 respectively besides the sentence. The Counter Terrorism Department (CTD) in Gujranwala had earlier registered a case against them, the Express Tribune reported. According to Punjab CTD spokesperson, the investigations and prosecutions "are being followed to stop proscribed organisations from indulging in terror financing." The spokesperson warned these organisations and their leaders to desist from such acts or action would be taken against them. Pakistan launched a crackdown against supporters of militant outfits after pressure from the international community to stop support to the militant groups. Three members of the Mumbai attack mastermind Hafiz Saeed-led Jamaat-ud-Dawa were arrested Thursday on charges of terror financing in Punjab province. Six JeM members were arrested for allegedly collecting funds for the terror group on Wednesday. On Monday, three terrorists belonging to the Islamic State (IS) and Lashkar-e-Jhangvi (LeJ) militant groups were arrested by the CTD officials in Pakistan's Punjab province. Last week, six activists of the JeM and the Lashkar-e-Jhangvi (LeJ) were arrested by the CTD from Gujranwala, Rawalpindi, Multan and Lahore for allegedly collecting funds to finance terrorism. Paris-based international terror financing watchdog FATF in June last year placed Pakistan onto its watch list in a bid to push the country to halt support for militant groups. In February, the FATF decided to continue the 'Grey' listing of Pakistan for its failure to stop funding of terrorist groups such as the JeM, the Lashkar-e-Taiba (LeT) and the JuD. The Pakistan government arrested over 100 members of banned outfits including JeM chief Azhar's son and brother and also taken control of JeM, JuD and FIF's properties including seminaries and mosques across the country.

Pakistan court sentences three Jaish-e-Mohammed activists for terror funding

Pakistan is certain to stay on the FATF's greylist, an official from FATF member countries told WION on Wednesday. Watch this video to know more.

Pakistan to remain on FATF's greylist

Pakistan is certain to stay on the greylist when the next meet of Financial Action Task Force or FATF, an official from FATF member countries told WION on Wednesday.

Pakistan to stay on FATF's greylist

Pakistan's seriousness to act against proscribed terror outfits and its efforts to curb money laundering and terror financing was questioned by members of a regional affiliate of the Financial Action Task Force (FATF) at a meeting held in China, according to a media report.

A 10-member delegation, led by Finance Secretary Mohammad Younas Dagha, attended the two-day meeting of the Asia-Pacific Group (APG) of the Paris-based FATF in the southern Chinese city of Guangzhou where it defended Pakistan's efforts against money laundering and terror financing.

According to a Dawn report, some participants, particularly those from India, raised very tough questions about Pakistan's seriousness to act against proscribed organisations and the effectiveness of internal controls.

On May 3, India's Finance Minister Arun Jaitley said it will ask the <a href="https://www.wionews.com/india-news/we-want-fatf-for-pakistan-should-be-downgraded-arun-jaitley-215344">FATF to put Pakistan on a blacklist of countrie</a>s that fail to meet international standards in stopping financial crime.&nbsp;

The APG will submit to the FATF its analysis of the compliance report submitted by Pakistan at the meeting, which concluded yesterday, and the progress made since the group's on-site inspection in Islamabad and Karachi in March, the report said.

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The APG report will become the basis for the FATF to decide whether to exclude Pakistan from its greylist or not.

The delegation briefed the meeting about Pakistan's updated actions against currency smuggling, proscribed organisations and tightening of financial and corporate sector systems and operational effectiveness, the report said.

Giving examples of the measures taken by it, Pakistan cited arrests of key operatives of some proscribed outfits, putting more such groups and their affiliates in the list of banned outfits, blocking their accounts and financial flows and taking control of their assets.

In March, bowing down to international pressure, Pakistan launched a major crackdown on Jaish-e-Mohammad, Jamat-ud-Dawa, Falah-i-Insaniyat Foundation and other banned outfits and took over the control of their assets throughout the country.

The Pakistan delegation said the country was very close to accomplish the milestones set under the FATF action plan well before the September deadline.

It also said the government recently revised its national risk assessment of the corporate sector, strengthened customs procedures on borders and inland movement of funds and assets.&nbsp;

Besides, internal control of the banking and non-banking financial institutions, insurance companies and stock exchanges has been strengthened to curb the possibility of money laundering and terror financing.&nbsp;

The delegation cited the creation of a specialised directorate of Cross-Border Currency Movement (CBCM) in Islamabad to maintain a database of currency seizures.&nbsp;

The APG had earlier flashed contradictory situations and poor coordination among stakeholders, including law enforcement agencies, in fighting money laundering and terror financing in Pakistan.

Last month, it expressed serious reservations over insufficient physical actions on the ground against proscribed organisations to block the flow of funds and activities.&nbsp;

Pakistan's seriousness to act against proscribed terror outfits and its efforts to curb money laundering and terror financing was questioned by members of a regional affiliate of the Financial Action Task Force (FATF) at a meeting held in China, according to a media report.

Pakistan's seriousness to act against proscribed terror outfits and its efforts to curb money laundering and terror financing was questioned by members of a regional affiliate of the Financial Action Task Force (FATF) at a meeting held in China, according to a media report. A 10-member delegation, led by Finance Secretary Mohammad Younas Dagha, attended the two-day meeting of the Asia-Pacific Group (APG) of the Paris-based FATF in the southern Chinese city of Guangzhou where it defended Pakistan's efforts against money laundering and terror financing. According to a Dawn report, some participants, particularly those from India, raised very tough questions about Pakistan's seriousness to act against proscribed organisations and the effectiveness of internal controls. On May 3, India's Finance Minister Arun Jaitley said it will ask the FATF to put Pakistan on a blacklist of countries that fail to meet international standards in stopping financial crime. The APG will submit to the FATF its analysis of the compliance report submitted by Pakistan at the meeting, which concluded yesterday, and the progress made since the group's on-site inspection in Islamabad and Karachi in March, the report said. × The APG report will become the basis for the FATF to decide whether to exclude Pakistan from its greylist or not. The delegation briefed the meeting about Pakistan's updated actions against currency smuggling, proscribed organisations and tightening of financial and corporate sector systems and operational effectiveness, the report said. Giving examples of the measures taken by it, Pakistan cited arrests of key operatives of some proscribed outfits, putting more such groups and their affiliates in the list of banned outfits, blocking their accounts and financial flows and taking control of their assets. In March, bowing down to international pressure, Pakistan launched a major crackdown on Jaish-e-Mohammad, Jamat-ud-Dawa, Falah-i-Insaniyat Foundation and other banned outfits and took over the control of their assets throughout the country. The Pakistan delegation said the country was very close to accomplish the milestones set under the FATF action plan well before the September deadline. It also said the government recently revised its national risk assessment of the corporate sector, strengthened customs procedures on borders and inland movement of funds and assets. Besides, internal control of the banking and non-banking financial institutions, insurance companies and stock exchanges has been strengthened to curb the possibility of money laundering and terror financing. The delegation cited the creation of a specialised directorate of Cross-Border Currency Movement (CBCM) in Islamabad to maintain a database of currency seizures. The APG had earlier flashed contradictory situations and poor coordination among stakeholders, including law enforcement agencies, in fighting money laundering and terror financing in Pakistan. Last month, it expressed serious reservations over insufficient physical actions on the ground against proscribed organisations to block the flow of funds and activities.

Pakistan's efforts to act against terror groups, money laundering questioned at Asia-Pacific Group meet in China

Did India concede ground to ensure China dropped its objection to the United Nations Security Council (UNSC) listing Jaish-e-Mohammed chief Masood Azhar as a global terrorist? &nbsp;The finger of suspicion points at the imminent proceedings of the Paris-based Financial Action Task force (FATF).&nbsp;

China’s Xiangming Liu takes over as president of the FATF on July 1, 2019 – just in time to save Pakistan from being blacklisted. Did China, Pakistan’s all-weather ally, drive a bargain at the UNSC last week to keep Pakistan out of the blacklist at the FATF’s scheduled October 2019 meeting in return for Masood Azhar’s listing?&nbsp;

The FATF’s Asian affiliate will later this month evaluate the progress Pakistan has made in 29 specific areas of terror financing and money laundering where the FATF says Pakistan is in violation of its guidelines.

The Imran Khan government says “Naya” Pakistan is determined to root out terrorism emanating from Pakistani soil and that most of FATF’s concerns have been taken care of.&nbsp;

No one in the FATF — or in Pakistan itself — believes that. Terror financing continues unabated. Money laundering through routes in Afghanistan and the Middle East to fund terror groups has not reduced. The listing of JeM’s Masood Azhar as a global terrorist by the UNSC is merely symbolic. The Lashkar-e-Toiba’s Hafiz Saeed was designated a global terrorist by the UNSC way back in 2001. He has been untouched by the Pakistani authorities and continues to preach jihad against India.

Masood Azhar is currently under the protection of the Pakistani army’s ISI. Islamabad says the UNSC listing will be implemented in all key areas, including imposing an arms embargo on Azhar and freezing his assets.&nbsp;

Since the JeM’s weaponry and funds come surreptitiously from the Pakistani Army, neither the arms embargo nor the asset freeze will alter the status quo. For the JeM, it is terror as usual.&nbsp;

Pakistan’s real fear is not the occasional UNSC listing of the terrorists it arms, funds and protects. Its real fear is blacklisting by the FATF. Already on the greylist, Pakistan simply cannot afford to be blacklisted. The only two countries currently on the FATF’s blacklist are Iran and North Korea. Blacklisting of a country cuts off all global financial aid and loans, imposes sanctions on the country’s banks, and cripples its economy. Iran and North Korea are examples of how FATF blacklisting (along with other US-specific sanctions) have devastated their economies.&nbsp;

Pakistan has been warned by the FATF that unless it shows real progress on ending terror financing, blacklisting by the watchdog body at its October 2019 meeting could follow. Pakistan’ fragile economy, already beset by low foreign exchange reserves, a depreciating rupee and a bloated current account deficit, could collapse if FATF blacklisted it. Islamabad has, therefore, spent the past several months working on a strategy to avoid this financial Armaggedon. The strategy has two prongs.&nbsp;

First, package “Naya” Pakistan as a break from the past. Prime Minister Imran Khan has promised action against all terror groups operating from Pakistan. Shortly after Masood Azhar was designated a global terrorist, Pakistan’s foreign office spokesman Mohammad Faisal declared piously: “The UNSC decision entails travel restrictions, asset freeze and arms embargo. Pakistan is a responsible state and we will take responsible action.”&nbsp;

This charm offensive is aimed squarely at the FATF and the United States. Talks between US special envoy on Afghanistan Zalmay Khalizad and the Pakistan-created Taliban terror organisation have recently run into a wall.&nbsp;

This is the second prong of Pakistan’s strategy: leverage its influence over the Taliban to reboot negotiations and offer US President Donald Trump a rapid exit from Afghanistan he seeks for US and NATO troops.&nbsp;

The two-pronged strategy thus relies on deception and blackmail. Deception because “Naya” Pakistan is a mirage. Blackmail because the Taliban is Pakistan’s bargaining chip with a US President desperate to end the country’s 18-year war in Afghanistan. Will the Pakistani strategy work? In the short term, yes. In the medium and long term, no.&nbsp;

Consider why: China will shortly head the FATF and sell the false “Naya” Pakistan narrative to members of the FATF to ensure Islamabad is not blacklisted in October. This though, will prove a pyrrhic victory for both Pakistan and China. Lulled into complacency by the China-headed FATF’s enforced generosity, terror groups in Pakistan will attack targets in India and Afghanistan with renewed vigour.&nbsp;

The drawdown of US and NATO troops will allow the Taliban free rein. If it is part of the new Afghan government following elections scheduled for later this year, Afghanistan will join a select group of countries ruled by a terror group.&nbsp;

For Pakistan, a Taliban-controlled Afghanistan constitutes the “strategic depth” it craves. But habits die hard. And bad habits die harder. Ordinary Afghans haven’t forgotten the last time the Taliban was part of the government in 1996-2001. They despise the Taliban and Pakistan in equal measure. India hasn’t forgotten Taliban rule either. In 1999, the Taliban played a venal role in helping the ISI-backed Harkat-ul-Mujahideen hijackers of Indian Airlines Flight 814 in Kandahar to free Masood Azhar from an Indian jail. &nbsp;

A return to “old” Pakistan is therefore guaranteed with help from its Taliban terror partners. The reprieve for Pakistan from the FATF could prove both temporary and illusory.&nbsp; 
 
(This article was originally published on The DNA. Read the <a href="https://www.dnaindia.com/analysis/column-fatf-pakistan-s-achilles-heel-2747319">original article)</a>

 
(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

 
&nbsp;

 
&nbsp;

Did India concede ground to ensure China dropped its objection to the United Nations Security Council (UNSC) listing Jaish-e-Mohammed chief Masood Azhar as a global terrorist?

Did India concede ground to ensure China dropped its objection to the United Nations Security Council (UNSC) listing Jaish-e-Mohammed chief Masood Azhar as a global terrorist? The finger of suspicion points at the imminent proceedings of the Paris-based Financial Action Task force (FATF). China’s Xiangming Liu takes over as president of the FATF on July 1, 2019 – just in time to save Pakistan from being blacklisted. Did China, Pakistan’s all-weather ally, drive a bargain at the UNSC last week to keep Pakistan out of the blacklist at the FATF’s scheduled October 2019 meeting in return for Masood Azhar’s listing? The FATF’s Asian affiliate will later this month evaluate the progress Pakistan has made in 29 specific areas of terror financing and money laundering where the FATF says Pakistan is in violation of its guidelines. The Imran Khan government says “Naya” Pakistan is determined to root out terrorism emanating from Pakistani soil and that most of FATF’s concerns have been taken care of. No one in the FATF — or in Pakistan itself — believes that. Terror financing continues unabated. Money laundering through routes in Afghanistan and the Middle East to fund terror groups has not reduced. The listing of JeM’s Masood Azhar as a global terrorist by the UNSC is merely symbolic. The Lashkar-e-Toiba’s Hafiz Saeed was designated a global terrorist by the UNSC way back in 2001. He has been untouched by the Pakistani authorities and continues to preach jihad against India. Masood Azhar is currently under the protection of the Pakistani army’s ISI. Islamabad says the UNSC listing will be implemented in all key areas, including imposing an arms embargo on Azhar and freezing his assets. Since the JeM’s weaponry and funds come surreptitiously from the Pakistani Army, neither the arms embargo nor the asset freeze will alter the status quo. For the JeM, it is terror as usual. Pakistan’s real fear is not the occasional UNSC listing of the terrorists it arms, funds and protects. Its real fear is blacklisting by the FATF. Already on the greylist, Pakistan simply cannot afford to be blacklisted. The only two countries currently on the FATF’s blacklist are Iran and North Korea. Blacklisting of a country cuts off all global financial aid and loans, imposes sanctions on the country’s banks, and cripples its economy. Iran and North Korea are examples of how FATF blacklisting (along with other US-specific sanctions) have devastated their economies. Pakistan has been warned by the FATF that unless it shows real progress on ending terror financing, blacklisting by the watchdog body at its October 2019 meeting could follow. Pakistan’ fragile economy, already beset by low foreign exchange reserves, a depreciating rupee and a bloated current account deficit, could collapse if FATF blacklisted it. Islamabad has, therefore, spent the past several months working on a strategy to avoid this financial Armaggedon. The strategy has two prongs. First, package “Naya” Pakistan as a break from the past. Prime Minister Imran Khan has promised action against all terror groups operating from Pakistan. Shortly after Masood Azhar was designated a global terrorist, Pakistan’s foreign office spokesman Mohammad Faisal declared piously: “The UNSC decision entails travel restrictions, asset freeze and arms embargo. Pakistan is a responsible state and we will take responsible action.” This charm offensive is aimed squarely at the FATF and the United States. Talks between US special envoy on Afghanistan Zalmay Khalizad and the Pakistan-created Taliban terror organisation have recently run into a wall. This is the second prong of Pakistan’s strategy: leverage its influence over the Taliban to reboot negotiations and offer US President Donald Trump a rapid exit from Afghanistan he seeks for US and NATO troops. The two-pronged strategy thus relies on deception and blackmail. Deception because “Naya” Pakistan is a mirage. Blackmail because the Taliban is Pakistan’s bargaining chip with a US President desperate to end the country’s 18-year war in Afghanistan. Will the Pakistani strategy work? In the short term, yes. In the medium and long term, no. Consider why: China will shortly head the FATF and sell the false “Naya” Pakistan narrative to members of the FATF to ensure Islamabad is not blacklisted in October. This though, will prove a pyrrhic victory for both Pakistan and China. Lulled into complacency by the China-headed FATF’s enforced generosity, terror groups in Pakistan will attack targets in India and Afghanistan with renewed vigour. The drawdown of US and NATO troops will allow the Taliban free rein. If it is part of the new Afghan government following elections scheduled for later this year, Afghanistan will join a select group of countries ruled by a terror group. For Pakistan, a Taliban-controlled Afghanistan constitutes the “strategic depth” it craves. But habits die hard. And bad habits die harder. Ordinary Afghans haven’t forgotten the last time the Taliban was part of the government in 1996-2001. They despise the Taliban and Pakistan in equal measure. India hasn’t forgotten Taliban rule either. In 1999, the Taliban played a venal role in helping the ISI-backed Harkat-ul-Mujahideen hijackers of Indian Airlines Flight 814 in Kandahar to free Masood Azhar from an Indian jail. A return to “old” Pakistan is therefore guaranteed with help from its Taliban terror partners. The reprieve for Pakistan from the FATF could prove both temporary and illusory. (This article was originally published on The DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

Pakistan banking on a Chinese incumbent to keep itself off the blacklist

Finance Minister <a href="https://www.wionews.com/world/long-awaited-action-victory-for-us-diplomacy-mike-pompeo-on-unsc-listing-azhar-as-terrorist-215231">Arun Jaitley </a>said on Thursday the government will request that Pakistan be downgraded by the Paris-based Financial Action Task Force (FATF), a global body created to counter terrorism financing and money laundering.

"There is a meeting of FATF in mid-May," Arun Jaitley told reporters. "We would want that the FATF for Pakistan should be downgraded."

The development comes a day after the UN sanctions committee on the Islamic State and Al-Qaeda on Wednesday announced the designation of Masood Azhar, leader of Jaish-e-Mohammed (JeM), over its ties to Al-Qaeda.

The JeM has claimed responsibility for the Pulwama suicide attack that killed 40 CRPF soldiers and led to a spike in military tensions between India and Pakistan.

It took ten years for the listing of Masood Azhar. India had proposed the listing in 2009, but China had continued to block the listing citing lack of consensus. In March of 2019, when China had put a hold at the listing of Masood Azhar, 14 out of 15 members of UNSC backed his listing.&nbsp;

The development has been welcomed by the US, UK. A British high commission spokesperson said it is "positive development for the security and stability of the South Asia region."&nbsp;

France was the first country to react on the listing of Masood Azhar on Wednesday calling it "successful realisation" of its efforts.

Azhar was released from prison in exchange for 155 hostages held on an Indian Airlines flight that had been hijacked to Kandahar in 1999. Since then, he is responsible for many terror attacks in India including the 2001 Parliament attack and 2019 Pulwama attack.&nbsp;

(With inputs from agencies)

Finance Minister Arun Jaitley said on Thursday the government will request that Pakistan be downgraded by the Paris-based Financial Action Task Force (FATF), a global body created to counter terrorism financing and money laundering.

Finance Minister Arun Jaitley said on Thursday the government will request that Pakistan be downgraded by the Paris-based Financial Action Task Force (FATF), a global body created to counter terrorism financing and money laundering. "There is a meeting of FATF in mid-May," Arun Jaitley told reporters. "We would want that the FATF for Pakistan should be downgraded." The development comes a day after the UN sanctions committee on the Islamic State and Al-Qaeda on Wednesday announced the designation of Masood Azhar, leader of Jaish-e-Mohammed (JeM), over its ties to Al-Qaeda. The JeM has claimed responsibility for the Pulwama suicide attack that killed 40 CRPF soldiers and led to a spike in military tensions between India and Pakistan. It took ten years for the listing of Masood Azhar. India had proposed the listing in 2009, but China had continued to block the listing citing lack of consensus. In March of 2019, when China had put a hold at the listing of Masood Azhar, 14 out of 15 members of UNSC backed his listing. The development has been welcomed by the US, UK. A British high commission spokesperson said it is "positive development for the security and stability of the South Asia region." France was the first country to react on the listing of Masood Azhar on Wednesday calling it "successful realisation" of its efforts. Azhar was released from prison in exchange for 155 hostages held on an Indian Airlines flight that had been hijacked to Kandahar in 1999. Since then, he is responsible for many terror attacks in India including the 2001 Parliament attack and 2019 Pulwama attack. (With inputs from agencies)

India to seek downgrading of Pakistan on terrorism financing list

Pakistan Prime Minister<a href="https://www.google.com/url?q=https://www.wionews.com/south-asia/pakistan-foreign-ministry-submits-proposal-to-pm-imran-khan-to-open-sharada-temple-for-indians-205524&amp;sa=U&amp;ved=0ahUKEwjWpoXw18zhAhWhguYKHVk5DY8QFggIMAE&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw3TFVfZkx7WQNVIsYkMzRyC"> Imran Khan</a>'s recent statement promising an end of support to terror groups does not reflect a change of policy and is motivated by the fear of getting blacklisted by the global terror-financing watchdog FATF, the country's former envoy to the US <a href="https://www.google.com/url?q=https://www.wionews.com/world/pakistan-unlikely-to-change-policy-on-militants-says-husain-haqqani-209997&amp;sa=U&amp;ved=0ahUKEwiUvMCR2MzhAhXFu48KHSPvDNUQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw2PgJsh_5jS5Cg7rad-S2Lt">Husain Haqqani</a> has said.

Amidst intense global pressure to rein in terror outfits, Khan last month said his government will not allow Pakistan's land to be used for any kind of terror activities and promised actions against militant groups operating from the country's soil.

Haqqani, Pakistan's former Ambassador to the US, told a Washington audience on Friday that so far, there is no evidence that the Khan government or the military is dismantling Pakistan's terrorist support infrastructure.

"There is little change in Pakistan's attitude towards militancy, particularly the one directed against Afghanistan and India," he said in his address to the third 'India Ideas Conference' organised by India Initiative of the prestigious Georgetown University.

Haqqani pointed out that Pakistan has failed to initiate any action against the Jaish-e-Mohammed (JeM) terror group or its leader Masood Azhar after the Pulwama terrorist attack in Jammu and Kashmir.

"Islamabad's close ties with Beijing were invoked to ensure that Azhar's designation as a terrorist by the United Nations was blocked by China at Pakistan's behest," he said, adding that such moves are consistent with Islamabad's policies of the last 30 years.

Haqqani, who has authored several books, is currently the Director for South and Central Asia at the Hudson Institute think-tank. He is considered as an outspoken critic of the Pakistan Army's domestic and foreign policies, especially its support of terrorism.

"Although the FATF sanctions are not imminent, Pakistan is trying to thwart them with public relations moves such as Imran Khan's latest statement. There will be more PR moves as FATF pressures increase," he said.

The former ambassador said that the desire to reassure the world once again that Pakistan wants to act against terrorist groups is motivated by economic considerations.

"Pakistan's economy is not doing too well. FATF sanctions would only make Khan's only economic option more borrowing and financial bailouts by other countries and IMF-- more difficult," he said.

Haqqani stressed that "Pakistan's support for militancy is a strategic choice, motivated by the desire to provide a force multiplier for a relatively poor country trying to act as a major regional power without resources comparable to its perceived rival".

Pakistan is under intense global pressure to rein in terrorist outfits operating from its soil after the Pulwama attack.

Tensions between India and Pakistan escalated after a suicide bomber of Pakistan-based terror group JeM killed 40 CRPF personnel in Jammu and Kashmir's Pulwama district on February 14.

India launched a counter-terror operation in Balakot. The next day, Pakistan Air Force retaliated and downed a MiG-21 in aerial combat and captured its pilot, who was handed over to India on March 1.

Paris-headquartered Financial Action Task Force (FATF) on February 22 condemned the Pulwama terror attack and decided to continue the 'Grey' listing of Pakistan for its failure to stop funding of terrorist groups such as JeM, Lashkar-e-Taiba and Jamat-ud-Dawa.

The FATF continuing Pakistan with the 'Gray' listing means downgrading of the country by multilateral lenders like the International Monetary Fund, World Bank, Asian Development Bank, European Union and also a reduction in risk rating by Moody's, S&amp;P and Fitch, according to experts.&nbsp; 
&nbsp;

Pakistan Prime Minister Imran Khan's recent statement promising an end of support to terror groups does not reflect a change of policy and is motivated by the fear of getting blacklisted by the global terror-financing watchdog FATF, the country's former envoy to the US Husain Haqqani has said.

Pakistan Prime Minister Imran Khan's recent statement promising an end of support to terror groups does not reflect a change of policy and is motivated by the fear of getting blacklisted by the global terror-financing watchdog FATF, the country's former envoy to the US Husain Haqqani has said. Amidst intense global pressure to rein in terror outfits, Khan last month said his government will not allow Pakistan's land to be used for any kind of terror activities and promised actions against militant groups operating from the country's soil. Haqqani, Pakistan's former Ambassador to the US, told a Washington audience on Friday that so far, there is no evidence that the Khan government or the military is dismantling Pakistan's terrorist support infrastructure. "There is little change in Pakistan's attitude towards militancy, particularly the one directed against Afghanistan and India," he said in his address to the third 'India Ideas Conference' organised by India Initiative of the prestigious Georgetown University. Haqqani pointed out that Pakistan has failed to initiate any action against the Jaish-e-Mohammed (JeM) terror group or its leader Masood Azhar after the Pulwama terrorist attack in Jammu and Kashmir. "Islamabad's close ties with Beijing were invoked to ensure that Azhar's designation as a terrorist by the United Nations was blocked by China at Pakistan's behest," he said, adding that such moves are consistent with Islamabad's policies of the last 30 years. Haqqani, who has authored several books, is currently the Director for South and Central Asia at the Hudson Institute think-tank. He is considered as an outspoken critic of the Pakistan Army's domestic and foreign policies, especially its support of terrorism. "Although the FATF sanctions are not imminent, Pakistan is trying to thwart them with public relations moves such as Imran Khan's latest statement. There will be more PR moves as FATF pressures increase," he said. The former ambassador said that the desire to reassure the world once again that Pakistan wants to act against terrorist groups is motivated by economic considerations. "Pakistan's economy is not doing too well. FATF sanctions would only make Khan's only economic option more borrowing and financial bailouts by other countries and IMF-- more difficult," he said. Haqqani stressed that "Pakistan's support for militancy is a strategic choice, motivated by the desire to provide a force multiplier for a relatively poor country trying to act as a major regional power without resources comparable to its perceived rival". Pakistan is under intense global pressure to rein in terrorist outfits operating from its soil after the Pulwama attack. Tensions between India and Pakistan escalated after a suicide bomber of Pakistan-based terror group JeM killed 40 CRPF personnel in Jammu and Kashmir's Pulwama district on February 14. India launched a counter-terror operation in Balakot. The next day, Pakistan Air Force retaliated and downed a MiG-21 in aerial combat and captured its pilot, who was handed over to India on March 1. Paris-headquartered Financial Action Task Force (FATF) on February 22 condemned the Pulwama terror attack and decided to continue the 'Grey' listing of Pakistan for its failure to stop funding of terrorist groups such as JeM, Lashkar-e-Taiba and Jamat-ud-Dawa. The FATF continuing Pakistan with the 'Gray' listing means downgrading of the country by multilateral lenders like the International Monetary Fund, World Bank, Asian Development Bank, European Union and also a reduction in risk rating by Moody's, S&P and Fitch, according to experts.

No evidence of Pakistan dismantling terror infrastructure, says former envoy Haqqani

Senior BJP leader Nirmala Sitharaman Saturday urged people to assess the Congress' five years in the opposition, claiming it was creating chaos to stop the government from doing good work.

She said the amount of 72,000 per year, promised by the Congress to the poor under its NYAY scheme, was half of what the Narendra Modi government is giving away currently to poor citizens through direct subsidy transfers.

While addressing professionals and intellectuals of the city here as part of BJP's Lok Sabha campaign, she said, though PM Modi was ready to reply to the Congress' questions in Parliament, leaders in the opposition created chaos and did not allow him to do so.

"Before 2014, the BJP was in opposition and it campaigned to uproot a corrupt government. Now, we are in power while Congress is in opposition. You should compare our performance as opposition and that of the Congress," she said.

"As an opposition party, we used to raise questions in the Parliament. But, we never made any baseless allegations. Now, though Modi ji was ready to give answers, he was not allowed by the opposition leaders who created chaos in the Parliament. This is today's opposition. They are trying to stop us from doing good work," she claimed.

"This is what the opposition has become. You have to think about this too," Sitharaman told the gathering.

On the minimum income guarantee scheme promised by the Congress, Sitharaman said "The Rs 72,000, which Congress is promising to give, is less than what Modiji is giving right now to the needy citizens through direct subsidy transfers."

She said because of the efforts of Modi, no country had criticised India for its February 26 Balakot air strike.

"Pakistan is already in the grey list of the Financial Action Task Force for not taking sufficient action against terror outfits. Now, it may be added in the black list of FATF," she said.

"Even Pakistan has admitted that they are on the verge of being blacklisted because of India's campaign. Why did such things not happen earlier? Because Modi hai to mumkin hai (With Modi, it is possible)," said the BJP leader.

When queried on National Conference president Farooq Abdullah's allegation that the Modi government was lying about the shooting down of a Pakistani F-16 in the aerial engagement on February 27, she said the Indian Air Force had already presented proof to establish it.

"There are many who are spreading such misinformation. Those who are questioning our army are part of the bhajan mandli of the Congress. What more I can say when some Indians are saying such things. It is painful" she said.

Responding to a question about Rahul Gandhi's allegations of irregularities in the Rafale deal and the involvement of Anil Ambani, Sitharaman dared the Congress chief to provide proof.

"Just show a simple proof to validate your allegation that Rs 30,000 crore was given to him (Ambani). If you can't show that proof, you do not have any right to say that the PM is a thief. I challenge you to show proof. If you cannot, you must stop levelling false and baseless allegations," she said.

The Congress allegations have been refuted routinely by the Centre as well as Ambani.

She was here to campaign for BJP national president Amit Shah who is contesting from Gandhinagar Lok Sabha seat.

Senior BJP leader Nirmala Sitharaman Saturday urged people to assess the Congress' five years in the opposition, claiming it was creating chaos to stop the government from doing good work.

Senior BJP leader Nirmala Sitharaman Saturday urged people to assess the Congress' five years in the opposition, claiming it was creating chaos to stop the government from doing good work. She said the amount of 72,000 per year, promised by the Congress to the poor under its NYAY scheme, was half of what the Narendra Modi government is giving away currently to poor citizens through direct subsidy transfers. While addressing professionals and intellectuals of the city here as part of BJP's Lok Sabha campaign, she said, though PM Modi was ready to reply to the Congress' questions in Parliament, leaders in the opposition created chaos and did not allow him to do so. "Before 2014, the BJP was in opposition and it campaigned to uproot a corrupt government. Now, we are in power while Congress is in opposition. You should compare our performance as opposition and that of the Congress," she said. "As an opposition party, we used to raise questions in the Parliament. But, we never made any baseless allegations. Now, though Modi ji was ready to give answers, he was not allowed by the opposition leaders who created chaos in the Parliament. This is today's opposition. They are trying to stop us from doing good work," she claimed. "This is what the opposition has become. You have to think about this too," Sitharaman told the gathering. On the minimum income guarantee scheme promised by the Congress, Sitharaman said "The Rs 72,000, which Congress is promising to give, is less than what Modiji is giving right now to the needy citizens through direct subsidy transfers." She said because of the efforts of Modi, no country had criticised India for its February 26 Balakot air strike. "Pakistan is already in the grey list of the Financial Action Task Force for not taking sufficient action against terror outfits. Now, it may be added in the black list of FATF," she said. "Even Pakistan has admitted that they are on the verge of being blacklisted because of India's campaign. Why did such things not happen earlier? Because Modi hai to mumkin hai (With Modi, it is possible)," said the BJP leader. When queried on National Conference president Farooq Abdullah's allegation that the Modi government was lying about the shooting down of a Pakistani F-16 in the aerial engagement on February 27, she said the Indian Air Force had already presented proof to establish it. "There are many who are spreading such misinformation. Those who are questioning our army are part of the bhajan mandli of the Congress. What more I can say when some Indians are saying such things. It is painful" she said. Responding to a question about Rahul Gandhi's allegations of irregularities in the Rafale deal and the involvement of Anil Ambani, Sitharaman dared the Congress chief to provide proof. "Just show a simple proof to validate your allegation that Rs 30,000 crore was given to him (Ambani). If you can't show that proof, you do not have any right to say that the PM is a thief. I challenge you to show proof. If you cannot, you must stop levelling false and baseless allegations," she said. The Congress allegations have been refuted routinely by the Centre as well as Ambani. She was here to campaign for BJP national president Amit Shah who is contesting from Gandhinagar Lok Sabha seat.

Defence minister Sitharaman slams Congress' role as opposition party

Pakistan has decided to "upgrade" a group of banned outfits, including the Jaish-e-Mohammad (JeM), to a "high" risk category and start monitoring and re-examining their activities to comply with the Financial Action Task Force (FATF) obligations, according to a media report on Saturday.

The Paris-based global watchdog against financial crimes had expressed dissatisfaction over considering these entities as "low" to "medium" risk by Islamabad, and said Pakistan did "not demonstrate a proper understanding of the terror financing risks posed by Daesh (ISIS), Al Qaeda, Jamaat-ud-Dawa(Jud), Falah-i-Insaniat Foundation (FIF), Lashkar-e-Taiba (LeT), Jaish-e-Mohammad (JeM) Haqqani network (HQN), and persons affiliated with the Taliban".

The proscribed organisations will be examined under heightened security checks at all layers of legal, administrative, investigative and financial regimes, the Dawn newspaper reported.

At least 40 security personnel were killed when a suicide bomber of the Pakistan-based JeM attacked their convoy in Jammu and Kashmir's Pulwama district on February 14.

"All these entities have now been described as high-risk entities and would be subject to greater scrutiny by all agencies and institutions of the state, starting from their registration to operations and from their fund collection to bank accounts and issuance of suspicious transactions, information sharing and so on," an unnamed official was quoted as saying in the report.

He said these decisions were taken at a meeting of the general council on FATF, led by Finance Secretary Arif Ahmed Khan, as part of a series of meetings to comply with the FATF obligations.

Khan had led the Pakistani delegation to Paris during the February 18-22 meetings of the FATF plenary and its group reviews.&nbsp;

During the course of these meetings, Pakistan had banned the FIF and JuD on February 21.

The official said based on revised risk profile to "high" from "medium", all the government institutions, including the Federal Investigation Agency (FIA), the Securities and Exchange Commission of Pakistan, the State Bank of Pakistan, the National Counter-Terrorism Authority, the Financial Monitoring Unit and intelligence agencies, would separately review records, databanks and procedures and methodologies regarding the proscribed entities and their representatives.

Based on this review exercise and re-evaluation of risk indicators, fresh suspected transaction reports would originate and run through the banking sector, while law enforcement agencies would continue their ongoing tough actions against the banned entities, including confiscation of their assets and accounts, the official said.

"All these institutions would complete the exercise within two weeks so as to present a compliance report to a delegation of the Asia-Pacific Joint Group -- a regional associate of the FATF --due to visit Islamabad on March 24.&nbsp;

"The delegation would review Pakistan's performance on the basis of Islamabad's fresh exercise over the next two days (March 25-26) and submit its assessment report to the FATF headquarters," the report said.

The FATF would then make a fresh review the progress and compliance with the remaining targets by May by Pakistan and conclude in June review meetings, whether the country should be moved out of the "grey list" or kept in this list in case of minor shortcomings or be downgraded to the "blacklist" having serious financial and economic repercussions in case of serious shortcomings.

Pakistan has been placed on the grey list by the FATF for failing to curb anti-terror financing in June last year, despite Islamabad's diplomatic efforts to avert the decision.

Officials said that defining these banned entities as high-risk meant the investigation agencies, supervisory and regulatory organisations and related institutions would be more alert and proactive to assessments of risk indicators, red flags, guidance and advisories.

They would be required to adopt the heightened level of inter-agency coordination for information sharing and actions to combat terror financing and money laundering, considered the risk to the global economy, the report said.

During the February 18-22 plenary and review meetings, the FATF had noted "limited progress" by Pakistan on targets set for January 2019, and urged the country "to swiftly complete its action plan, particularly those with timelines of May 2019."

Pakistan has decided to "upgrade" a group of banned outfits, including the Jaish-e-Mohammad (JeM), to a "high" risk category and start monitoring and re-examining their activities to comply with the Financial Action Task Force (FATF) obligations, according to a media report on Saturday.

Pakistan has decided to "upgrade" a group of banned outfits, including the Jaish-e-Mohammad (JeM), to a "high" risk category and start monitoring and re-examining their activities to comply with the Financial Action Task Force (FATF) obligations, according to a media report on Saturday. The Paris-based global watchdog against financial crimes had expressed dissatisfaction over considering these entities as "low" to "medium" risk by Islamabad, and said Pakistan did "not demonstrate a proper understanding of the terror financing risks posed by Daesh (ISIS), Al Qaeda, Jamaat-ud-Dawa(Jud), Falah-i-Insaniat Foundation (FIF), Lashkar-e-Taiba (LeT), Jaish-e-Mohammad (JeM) Haqqani network (HQN), and persons affiliated with the Taliban". The proscribed organisations will be examined under heightened security checks at all layers of legal, administrative, investigative and financial regimes, the Dawn newspaper reported. At least 40 security personnel were killed when a suicide bomber of the Pakistan-based JeM attacked their convoy in Jammu and Kashmir's Pulwama district on February 14. "All these entities have now been described as high-risk entities and would be subject to greater scrutiny by all agencies and institutions of the state, starting from their registration to operations and from their fund collection to bank accounts and issuance of suspicious transactions, information sharing and so on," an unnamed official was quoted as saying in the report. He said these decisions were taken at a meeting of the general council on FATF, led by Finance Secretary Arif Ahmed Khan, as part of a series of meetings to comply with the FATF obligations. Khan had led the Pakistani delegation to Paris during the February 18-22 meetings of the FATF plenary and its group reviews. During the course of these meetings, Pakistan had banned the FIF and JuD on February 21. The official said based on revised risk profile to "high" from "medium", all the government institutions, including the Federal Investigation Agency (FIA), the Securities and Exchange Commission of Pakistan, the State Bank of Pakistan, the National Counter-Terrorism Authority, the Financial Monitoring Unit and intelligence agencies, would separately review records, databanks and procedures and methodologies regarding the proscribed entities and their representatives. Based on this review exercise and re-evaluation of risk indicators, fresh suspected transaction reports would originate and run through the banking sector, while law enforcement agencies would continue their ongoing tough actions against the banned entities, including confiscation of their assets and accounts, the official said. "All these institutions would complete the exercise within two weeks so as to present a compliance report to a delegation of the Asia-Pacific Joint Group -- a regional associate of the FATF --due to visit Islamabad on March 24. "The delegation would review Pakistan's performance on the basis of Islamabad's fresh exercise over the next two days (March 25-26) and submit its assessment report to the FATF headquarters," the report said. The FATF would then make a fresh review the progress and compliance with the remaining targets by May by Pakistan and conclude in June review meetings, whether the country should be moved out of the "grey list" or kept in this list in case of minor shortcomings or be downgraded to the "blacklist" having serious financial and economic repercussions in case of serious shortcomings. Pakistan has been placed on the grey list by the FATF for failing to curb anti-terror financing in June last year, despite Islamabad's diplomatic efforts to avert the decision. Officials said that defining these banned entities as high-risk meant the investigation agencies, supervisory and regulatory organisations and related institutions would be more alert and proactive to assessments of risk indicators, red flags, guidance and advisories. They would be required to adopt the heightened level of inter-agency coordination for information sharing and actions to combat terror financing and money laundering, considered the risk to the global economy, the report said. During the February 18-22 plenary and review meetings, the FATF had noted "limited progress" by Pakistan on targets set for January 2019, and urged the country "to swiftly complete its action plan, particularly those with timelines of May 2019."

Pakistan to put group of banned outfits including  Jaish-e-Mohammed in high-risk category, monitor their activities: Report

The <a href="http://www.wionews.com/world/opinion-pakistan-will-face-major-economic-loss-after-fatf-puts-it-on-grey-list-of-terror-financing-34131">Financial Action Task Force (FATF) has come hard on Pakistan </a>saying it has not demonstrated a proper understanding of the terror financing risks posed by "Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban. "

The FATF asked Pakistan should continue to work on implementing its action plan to address its strategic deficiencies and said, "Given the limited progress on action plan items due in January 2019, the <a href="http://www.wionews.com/south-asia/how-will-fatf-grey-listing-impact-pakistan-148048">FATF</a> urges Pakistan to swiftly complete its action plan, particularly those with timelines of May 2019."

Pakistan was put on the greylist last year which meant the country came under financial jurisdiction with “structural deficiencies” in anti-money laundering (AML) and combating the financing of terrorism (CFT) or simply - supports financing of terror.

Even as Financial Action Task Force (FATF) came hard on Pakistan on for not doing enough on terror financing, the president of the anti-terror financing group Marshall Billingslea has said that the multilateral group will hold Islamabad accountable if the country does not fulfil its commitments.&nbsp;

Replying to WION's question that is Pakistan serious on acting on terror, in briefing post the week-long FATF plenary, Billingslea said, "I have engaged in my capacity as the president of FATF...I believe when they issue high-level commitment that they well understood what they were committing too and again as I have said we will hold them to it and we expect time table to be met and action plan to be fully implemented in line with FATF standards"

A high-level delegation from the government&nbsp;of Pakistan attended the FATF plenary.

In June 2018, Pakistan had made a high-level political commitment to work with the FATF and Asia Pacific group to strengthen its AML/CFT regime and to address its strategic counter- terrorist financing-related deficiencies.

FATF said, "Pakistan has taken steps towards improving its AML/CFT regime, including by operationalising the integrated database for its currency declaration regime."

FATF has listed ten points including "demonstrating effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists" for Pakistan to act on.&nbsp;

The development comes shot in the arm for New Delhi which has been focusing in global isolation of Pakistan in the aftermath of the Pulwama attack which was claimed by Pakistan based Jaish-e-Mohammad(JeM).

&nbsp;

The Financial Action Task Force (FATF) has come hard on Pakistan saying it has not demonstrated a proper understanding of the terror financing risks posed by "Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban.

The Financial Action Task Force (FATF) has come hard on Pakistan saying it has not demonstrated a proper understanding of the terror financing risks posed by "Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban. " The FATF asked Pakistan should continue to work on implementing its action plan to address its strategic deficiencies and said, "Given the limited progress on action plan items due in January 2019, the FATF urges Pakistan to swiftly complete its action plan, particularly those with timelines of May 2019." Pakistan was put on the greylist last year which meant the country came under financial jurisdiction with “structural deficiencies” in anti-money laundering (AML) and combating the financing of terrorism (CFT) or simply - supports financing of terror. Even as Financial Action Task Force (FATF) came hard on Pakistan on for not doing enough on terror financing, the president of the anti-terror financing group Marshall Billingslea has said that the multilateral group will hold Islamabad accountable if the country does not fulfil its commitments. Replying to WION's question that is Pakistan serious on acting on terror, in briefing post the week-long FATF plenary, Billingslea said, "I have engaged in my capacity as the president of FATF...I believe when they issue high-level commitment that they well understood what they were committing too and again as I have said we will hold them to it and we expect time table to be met and action plan to be fully implemented in line with FATF standards" A high-level delegation from the government of Pakistan attended the FATF plenary. In June 2018, Pakistan had made a high-level political commitment to work with the FATF and Asia Pacific group to strengthen its AML/CFT regime and to address its strategic counter- terrorist financing-related deficiencies. FATF said, "Pakistan has taken steps towards improving its AML/CFT regime, including by operationalising the integrated database for its currency declaration regime." FATF has listed ten points including "demonstrating effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists" for Pakistan to act on. The development comes shot in the arm for New Delhi which has been focusing in global isolation of Pakistan in the aftermath of the Pulwama attack which was claimed by Pakistan based Jaish-e-Mohammad(JeM).

Pakistan hasn't demonstrated proper understanding of terror financing: FATF

Iran on Tuesday ruled out the linkage between a new <a href="http://www.wionews.com/opinions/in-line-with-us-sanctions-china-dramatically-reduces-trade-with-tehran-193997">EU mechanism to trade with Tehran</a> bypassing US sanctions and an anti-money laundering bill.

"Linking implementation of this mechanism... with the requirements of institutions such as the FATF is unacceptable," the foreign ministry said, referring to the international Financial Action Task Force.

Iran is on a FATF blacklist drawn up to counter money laundering and the financing of terrorist groups, but the Paris-based organisation has suspended counter-measures since 2017 while Tehran works on reforms.

EU leaders on Monday welcomed the bloc's new mechanism to trade with Iran but warned Tehran over its ballistic missile programme and regional policies while calling for it to implement reforms to comply with FATF demands.

Britain, France and Germany created the system last week to allow firms to trade with Iran without falling foul of US sanctions.

The foreign ministry, in its statement, welcomed the EU's "positive stances" but also criticised the bloc's warnings on its missile programme and its regional policies.

"Iran’s defence activities... are merely defensive, deterrent and a domestic matter that has never been on the agenda of our negotiations with other countries," it said.

"Raising such issues under current regional circumstances and clear threats against the national security of the Islamic Republic of Iran is not constructive," the ministry said.

It urged European countries "to take a realistic look at regional incidents and issues and not to be influenced" by the United States.

Brussels, for its part, hopes the special payment mechanism for trade with Iran&nbsp; — registered under the name INSTEX — will help save the 2015 nuclear deal between Tehran and major powers.

Washington has reimposed sanctions after President Donald Trump last year quit the accord which lifted the measures in exchange for curbs on Iran's nuclear programme.

Iran has welcomed INSTEX as a "first step", while US officials have said it would not affect its efforts to exert economic pressure on Tehran.

Iran on Tuesday ruled out the linkage between a new EU mechanism to trade with Tehran bypassing US sanctions and an anti-money laundering bill. "Linking implementation of this mechanism.

Iran on Tuesday ruled out the linkage between a new EU mechanism to trade with Tehran bypassing US sanctions and an anti-money laundering bill. "Linking implementation of this mechanism... with the requirements of institutions such as the FATF is unacceptable," the foreign ministry said, referring to the international Financial Action Task Force. Iran is on a FATF blacklist drawn up to counter money laundering and the financing of terrorist groups, but the Paris-based organisation has suspended counter-measures since 2017 while Tehran works on reforms. EU leaders on Monday welcomed the bloc's new mechanism to trade with Iran but warned Tehran over its ballistic missile programme and regional policies while calling for it to implement reforms to comply with FATF demands. Britain, France and Germany created the system last week to allow firms to trade with Iran without falling foul of US sanctions. The foreign ministry, in its statement, welcomed the EU's "positive stances" but also criticised the bloc's warnings on its missile programme and its regional policies. "Iran’s defence activities... are merely defensive, deterrent and a domestic matter that has never been on the agenda of our negotiations with other countries," it said. "Raising such issues under current regional circumstances and clear threats against the national security of the Islamic Republic of Iran is not constructive," the ministry said. It urged European countries "to take a realistic look at regional incidents and issues and not to be influenced" by the United States. Brussels, for its part, hopes the special payment mechanism for trade with Iran — registered under the name INSTEX — will help save the 2015 nuclear deal between Tehran and major powers. Washington has reimposed sanctions after President Donald Trump last year quit the accord which lifted the measures in exchange for curbs on Iran's nuclear programme. Iran has welcomed INSTEX as a "first step", while US officials have said it would not affect its efforts to exert economic pressure on Tehran.

Iran rejects EU trade, anti-money laundering link

A high-level delegation from Pakistan is in Australia for a three-day meeting of the Financial Action Task Force (FATF) that will review the progress made by the government to stop money laundering and terrorism financing.

The 12-member Pakistani team will explain the action plan that the government intends to follow to come into compliance with international obligations and secure an exit from the grey list of the Paris-based watchdog.

The Financial Action Task Force in its Paris meeting in June last year placed Pakistan onto its watch list in a bid to push the country to halt support for militant groups.

Pakistan on Friday dispatched a Terror Financing Risk Assessment Report electronically to FATF followed by a 12-member team led by Secretary Finance Arif Ahmed Khan to Sydney to attend the three-day meeting, beginning Saturday.

The delegation comprised representatives of the State Bank of Pakistan (SBP), National Counter Terrorism Authority (NACTA), Federal Investigation Agency (FIA), Federal Board of Revenue (FBR) and Financial Monitoring Unit.

The official said the delegation will address questions and observations of the FATF on the basis of risk assessment report transmitted to the global anti-terror financing watchdog.&nbsp;

The report highlights the implementation status of plans for various agencies of the government on the FATF's recommendations.

The report identified some key routes of the terror financing and money laundering, saying Pak-Afghan and Pak-Iran borders were two key routes of such flows, the daily said.

To address the challenge, checking and security systems at Pak-Afghan border had been strengthened with improved technology and vigilance while security had also been beefed up at Pak-Iran border, the report said.

The report said that the long coastal belt was also a source of smuggling and security was being tightened through law enforcement agencies, including through marine and coast guards.

It said the tools being used for financial transaction for terrorism included donations, cash smuggling, natural resources, drugs, non-governmental organisations and foreign agencies.

In June 2018, Pakistan made a high-level political commitment to work with the FATF and APG to strengthen its AML/CFT regime and to address its strategic counter-terrorism financing-related deficiencies by implementing a 10-point action plan to accomplish these objectives.

The successful implementation of the action plan and its physical verification by the APG will lead the FATF to clear Pakistan out of its greylist or else move into the blacklist by September 2019.&nbsp;

A high-level delegation from Pakistan is in Australia for a three-day meeting of the Financial Action Task Force (FATF) that will review the progress made by the government to stop money laundering and terrorism financing.

A high-level delegation from Pakistan is in Australia for a three-day meeting of the Financial Action Task Force (FATF) that will review the progress made by the government to stop money laundering and terrorism financing. The 12-member Pakistani team will explain the action plan that the government intends to follow to come into compliance with international obligations and secure an exit from the grey list of the Paris-based watchdog. The Financial Action Task Force in its Paris meeting in June last year placed Pakistan onto its watch list in a bid to push the country to halt support for militant groups. Pakistan on Friday dispatched a Terror Financing Risk Assessment Report electronically to FATF followed by a 12-member team led by Secretary Finance Arif Ahmed Khan to Sydney to attend the three-day meeting, beginning Saturday. The delegation comprised representatives of the State Bank of Pakistan (SBP), National Counter Terrorism Authority (NACTA), Federal Investigation Agency (FIA), Federal Board of Revenue (FBR) and Financial Monitoring Unit. The official said the delegation will address questions and observations of the FATF on the basis of risk assessment report transmitted to the global anti-terror financing watchdog. The report highlights the implementation status of plans for various agencies of the government on the FATF's recommendations. The report identified some key routes of the terror financing and money laundering, saying Pak-Afghan and Pak-Iran borders were two key routes of such flows, the daily said. To address the challenge, checking and security systems at Pak-Afghan border had been strengthened with improved technology and vigilance while security had also been beefed up at Pak-Iran border, the report said. The report said that the long coastal belt was also a source of smuggling and security was being tightened through law enforcement agencies, including through marine and coast guards. It said the tools being used for financial transaction for terrorism included donations, cash smuggling, natural resources, drugs, non-governmental organisations and foreign agencies. In June 2018, Pakistan made a high-level political commitment to work with the FATF and APG to strengthen its AML/CFT regime and to address its strategic counter-terrorism financing-related deficiencies by implementing a 10-point action plan to accomplish these objectives. The successful implementation of the action plan and its physical verification by the APG will lead the FATF to clear Pakistan out of its greylist or else move into the blacklist by September 2019.

Pakistan delegation in Australia for FATF meeting

Pakistan's government has agreed to take fresh steps to address the money laundering and terror-financing issues, in an effort to avoid being blacklisted by<a href="http://www.wionews.com/south-asia/fatf-dissatisfied-over-pakistans-efforts-to-combat-terror-financing-report-172508"> Financial Action Task Force</a> (FATF) ahead of its crucial meeting next month, officials said.

Currently placed on the <a href="http://wionews.com/south-asia/fatf-team-in-pak-to-examine-steps-taken-against-terror-financing-170185">Paris-based FATF's 'grey list'</a>, Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations by the FATF, a measure that officials here fear could further hurt its economy.

Finance Minister Asad Umar on Tuesday chaired a high-level meeting of the National Executive Committee (NEC) on anti-money laundering, where a report titled 'Terrorism Financing Risk Assessment' was presented.

It was also the first comprehensive risk assessment report jointly prepared by the National Counter Terrorism Authority (Nacta) and the Federal Investigation Agency (FIA).

The meeting approved the findings of a report that foreign funding, drug trafficking, kidnapping for ransom, extortion, robbery and bank heists were the primary sources of terror-funding in Pakistan.

Highlighting that the terror financing has roots outside Pakistan's borders, the report said the hostile agencies were fuelling terrorism in Pakistan by providing funding to sub-national terrorist groups.

Officials said that the report was prepared as part of implementation on a 27-point action plan that the FATF handed over to Pakistan as a prerequisite to exit the grey list.

Out of these 27 actions agreed with the FATF, Pakistan is required to deliver on 10 points by January 2019.

Officials said that most of the task set out by the FATF has been met and others will be fulfilled before the deadline.

They said the areas highlighted in the report would be addressed through legal and administrative actions in order to meet the commitments made with the FATF.

The report says that the role of the law enforcement agencies was critical to implement these recommendations, particularly to curb the sources of terror financing, the sources said.

The NEC meeting was told that the issue of terror financing through cryptocurrency was addressed by the State Bank of Pakistan that already barred the financial institutions in dealing with cryptocurrency.

The FIA informed the meeting about actions taken to curb hawala business and action against bit-coin currency dealers, while the Securities and Exchange Commission of Pakistan said that it had notified changes in the Intermediaries (Registration) Regulations, 2017 aimed at implementing the FATF requirements.

The meeting decided to speed up enforcement of action and following a results-based approach to meet the FATF obligations, officials said.

Pakistan would submit a compliance report to the Asia Pacific Joint Group next month. The group will then present Pakistan's case in the FATF meeting in February 2019.

A team of experts from FATF's International Cooperation Review Group (ICRG) is scheduled to visit Pakistan in the first week of January to assess the progress made by it on an action plan agreed in June to address global concerns.

The country will have to deliver on all the 27 points by September next year. In case it fails, Pakistan can be blacklisted, which carries serious financial implications.

By January 2019, Pakistan will also have to demonstrate effective implementation of targeted financial sanctions against the assets of the UNSC designated persons and entities and their affiliates.

These include Daesh (ISIS), Al Qaeda, Falahi Insaniyat Foundation (FIF), Jamaat-ud-Dawa, Lashkar-e-Taiba, Jaish-e-Mohmmad, Haqqani Network and persons affiliated with the Taliban.&nbsp;

Pakistan's government has agreed to take fresh steps to address the money laundering and terror-financing issues, in an effort to avoid being blacklisted by Financial Action Task Force (FATF) ahead of its crucial meeting next month, officials said.

Pakistan's government has agreed to take fresh steps to address the money laundering and terror-financing issues, in an effort to avoid being blacklisted by Financial Action Task Force (FATF) ahead of its crucial meeting next month, officials said. Currently placed on the Paris-based FATF's 'grey list', Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations by the FATF, a measure that officials here fear could further hurt its economy. Finance Minister Asad Umar on Tuesday chaired a high-level meeting of the National Executive Committee (NEC) on anti-money laundering, where a report titled 'Terrorism Financing Risk Assessment' was presented. It was also the first comprehensive risk assessment report jointly prepared by the National Counter Terrorism Authority (Nacta) and the Federal Investigation Agency (FIA). The meeting approved the findings of a report that foreign funding, drug trafficking, kidnapping for ransom, extortion, robbery and bank heists were the primary sources of terror-funding in Pakistan. Highlighting that the terror financing has roots outside Pakistan's borders, the report said the hostile agencies were fuelling terrorism in Pakistan by providing funding to sub-national terrorist groups. Officials said that the report was prepared as part of implementation on a 27-point action plan that the FATF handed over to Pakistan as a prerequisite to exit the grey list. Out of these 27 actions agreed with the FATF, Pakistan is required to deliver on 10 points by January 2019. Officials said that most of the task set out by the FATF has been met and others will be fulfilled before the deadline. They said the areas highlighted in the report would be addressed through legal and administrative actions in order to meet the commitments made with the FATF. The report says that the role of the law enforcement agencies was critical to implement these recommendations, particularly to curb the sources of terror financing, the sources said. The NEC meeting was told that the issue of terror financing through cryptocurrency was addressed by the State Bank of Pakistan that already barred the financial institutions in dealing with cryptocurrency. The FIA informed the meeting about actions taken to curb hawala business and action against bit-coin currency dealers, while the Securities and Exchange Commission of Pakistan said that it had notified changes in the Intermediaries (Registration) Regulations, 2017 aimed at implementing the FATF requirements. The meeting decided to speed up enforcement of action and following a results-based approach to meet the FATF obligations, officials said. Pakistan would submit a compliance report to the Asia Pacific Joint Group next month. The group will then present Pakistan's case in the FATF meeting in February 2019. A team of experts from FATF's International Cooperation Review Group (ICRG) is scheduled to visit Pakistan in the first week of January to assess the progress made by it on an action plan agreed in June to address global concerns. The country will have to deliver on all the 27 points by September next year. In case it fails, Pakistan can be blacklisted, which carries serious financial implications. By January 2019, Pakistan will also have to demonstrate effective implementation of targeted financial sanctions against the assets of the UNSC designated persons and entities and their affiliates. These include Daesh (ISIS), Al Qaeda, Falahi Insaniyat Foundation (FIF), Jamaat-ud-Dawa, Lashkar-e-Taiba, Jaish-e-Mohmmad, Haqqani Network and persons affiliated with the Taliban.

Pakistan agrees to take fresh steps to avoid being blacklisted by FATF

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