Paris: Pakistan has now escaped from the black list of the Global Terrorism Watch Group, the Financial Action Task Force (FATF). Moreover, Pakistan has been placed on the black list as Pakistan has achieved just 5 of the 27 targets set by the FATF. The FATF has finalized a deadline for Pakistan to take drastic measures if it does not control terrorist financing by February 2020. The Asia-Pacific (APG) Division of the Financial Action Task Force (FATF) monitors financial fraud and proceeds from terrorist organizations. Already, a consultative meeting of FATF and APG was held in Canberra, Australia last August.
At that meeting, it was decided to include Pakistan on the black list. It said that Pakistan did not comply with 32 of the 40 rules set by the Asia-Pacific Group (APG) to prevent terrorism financing and illegal money laundering. Moreover, Pakistan is reportedly not taking appropriate action to restrict funding for terrorist activities. The timeframe for the move was extended until next October.
Moreover, Pakistan was warned that if Pakistan did not take action until October, it would be placed on the black list of the APG. In this regard, at a meeting of the Financial Action Task Force, Pakistan was able to address only five of the 27 targets provided for controlling funding for terrorist groups such as Lashkar-e-Taiba and Jaish-e-Mohammed, responsible for a series of attacks in India. So, Pakistan has been added to the list of Gray.
Moreover, it has warned that Pakistan will be blacklisted if it does not stop funding terrorist organizations within the next four months. It is reported that if Pakistan does not stop the financial fraud by 2020, strict action will be taken. In general, blacklisted countries may have difficulty obtaining funding from the international financial institution FATF.
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