Pak Failing to Curb Money Flow to Hafiz Saeed: Damning FATF Report
The observations are a major blow to Pakistan, which faces the threat of being placed under the FATF’s “blacklist.”
In what was a major setback for Pakistan, the Asia Pacific Group (APG) of the Financial Action Task Force (FATF) stated on Monday, 7 October, that Islamabad has taken insufficient measures to fully implement UNSCR 1267 obligations against 26/11 mastermind Hafiz Saeed and other individuals associated with LeT, JuD, FIF, among other terror groups.
After analysing Pakistan’s efforts to curb money flows to terrorist and terrorist groups, the APG in the latest report titled ‘Mutual Evaluation Report’ (MER) of Pakistan, urged the country to “identify, asses and understand” its money laundering or terror financing risks, including the risks associated with these groups operating on its soil.
It added that Pakistan should implement a comprehensive and coordinated risk-based approach to combating money laundering and terror financing.
The observations are a major blow to Pakistan, which faces the threat of being placed under the FATF's “blacklist.”
The deadline expired in September this year, and the report also strengthens India’s case for the FATF session next week.
During its next meeting between 13 and 18 October, FATF is expected to do a final review of the issue.
(With inputs from ANI)
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