After Financial Action Task Force’s (FATF) rap to Pakistan on failing to act on terror financing, India has said that it expects the neighbours to comply with the FATF norms by September 2019.
In response to a media query regarding the FATF report, Ministry of External Affairs Spokesperson Raveesh Kumar said the FATF has decided to continue to keep Pakistan on its compliance document (i.e. Grey List) for the International Cooperation Review Group (ICRG) monitoring for its failure to complete the action plan items due in January and May 2019.
He said, “We expect Pakistan to take all necessary steps to effectively implement the FATF Action Plan fully within the remaining time frame i.e. by September 2019 in accordance with its political commitment to the FATF and take credible, verifiable, irreversible and sustainable measures to address global concerns related to terrorism and terrorist financing emanating from any territory under its control.”
India has welcomed the FATF’s slamming Pakistan for financing terror organisations on its soil.
On Friday, FATF issued a warning to Pakistan and said they have failed to complete its action plan on terror financing. FATF has issued a stern warning to Islamabad to meet its commitment by October or face action, which could possibly lead to the country getting blacklisted.
The Paris-based global body is working to curb terrorism financing and money laundering and has asked Pakistan to reassess the operation of banned terrorist outfits in the country.
In June last year, the FATF placed Pakistan on the grey list of countries whose domestic laws are considered weak to tackle the challenges of money laundering and terrorism financing.
In a statement issued at the conclusion of its plenary meeting in Orlando, Florida, the FATF expressed concern “that not only did Pakistan fail to complete its action plan items with January deadline, it also failed to complete its action plan items due May 2019”.
The FATF has “strongly” urged Pakistan to swiftly complete its action plan by October 2019 when the last set of action plan items will expire.
Sources privy to the plenary meetings say that the US, the UK, Germany and France, the four nominating nations, have expressed displeasure over Pakistan’s non-compliance of the 27-point action plan of the international watchdog.
Pakistan has maintained that it has done enough by seizing over 700 properties of Lashkar e Taiba (LeT), Jamaat ud Dawa (JuD), Falah-e-Insaniat Foundation (FiF) and Jaish e Mohammed (JeM), similar to what it did as a result of its previous gray listing in 2012.
However, FATF members are concerned that there are no cases registered against the terror leadership, namely Hafiz Saeed and Azhar Masood and other UN-designated terrorists.