New Delhi | The Ministry of External Affairs on Saturday welcomed the decision of the Financial Action Task Force (FATF) to place Pakistan in its Compliance Document (Grey list) for ICRG monitoring.
India’s official Spokesperson while welcoming the decision said,”Pakistan failed to keep their commitment for countering terror financing and anti-money laundering in respect of the United Nation designated and internationally proscribed terror entities.”
“Pakistan has given high-level political commitment to address global concerns on the implementation of FATF standards for countering terror financing& anti-money laundering, especially in respect of UN designated&internationally proscribed terror entities and individuals.” he added.
The Spokesperson further added that The freedom and impunity with which the designated terrorists like Hafiz Saeed and entities like Jamaat-Ud-Dawaa, Lashkar-e-Tayabba, Jaish-e-Mohammed continue to operate in Pakistan is not in keeping with such commitments.
Pakistan’s inclusion in the FATF’s grey list means that Islamabad’s financial system will be designated as posing a risk to the international financial system because of “strategic deficiencies” in its ability to prevent terror financing and money laundering.
FATF has not been entirely convinced by Pakistan’s 26-point action plan to cut off funding for terrorists and groups sanctioned by the UN Security Council, and therefore, has gone ahead put Islamabad on its grey list for the second time in six years, the first being between 2012 and 2015.
The FATF has begun assessing Pakistan’s action plan that will be implemented over a period of 15 months beginning next January. Reports suggested that Islamabad tried not to be included in the “grey list”, but sources said a decision had already been taken in plenary meetings of the Paris-based global financial watchdog in February.
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