Pakistan forced to take some action against terrorists due to FATF scrutiny: MEA on Islamabad's exit from grey list
Oct 21, 2022
New Delhi [India], October 21 : Noting that Pakistan has been forced to take some action against well-known terrorists as a result of FATF scrutiny, India on Friday said that Islamabad must take credible, and verifiable action against terrorism and terrorist financing emanating from territories under its control.
In response to media queries about Pakistan having been taken off the FATF 'grey list', MEA spokesperson Arindam Bagchi referred to the global watchdog's remarks that Pakistan would continue to work to improve its Anti Money Laundering and Counter Terror Financing system.
"We have seen reports relating to Pakistan in the context of the Financial Action Task Force (FATF) plenary in Paris. We understand that Pakistan will continue to work with the Asia Pacific Group on Money Laundering (APG) to further improve its Anti Money Laundering (AML) /Counter Terror Financing (CFT) system," he said.
"As a result of FATF scrutiny, Pakistan has been forced to take some action against well-known terrorists, including those involved in attacks against the entire international community in Mumbai on 26/11," he added.
Bagchi said it is in global interest that "the world remains clear that Pakistan must continue to take credible, verifiable, irreversible and sustained action against terrorism and terrorist financing emanating from territories under its control."
Pakistan has been on the Paris-based watchdog's grey list for deficiencies in its counter-terror financing and anti-money laundering regimes since June 2018.
This greylisting has adversely impacted its imports, exports and remittances and limited its access to international lending.
The global money laundering and terrorist financing watchdog said after its plenary in Paris that Pakistan strengthened the effectiveness of its AML/CFT regime and addressed technical deficiencies to meet commitments of its action plans regarding strategic deficiencies that FATF identified.
Pakistan "is no longer subject to FATF's increased monitoring process; to continue to work with APG to further improve it is AML/CFT," the watchdog said.
At the June plenary, FATF retained Pakistan on its grey list and had said a final decision to remove it from the list will be taken after an "on-site" verification visit. Later in September, a FATF team visited Pakistan.
The FATF issued the 27-point action plan after placing Pakistan on the grey list in June 2018. The action plan pertained to curbing money laundering and terror financing.
Pakistan was first put on the grey list in 2008, removed in 2009 and then again remained under increased monitoring from 2012 to 2015. The FATF Plenary is the decision-making body of the FATF. It meets three times every year.
Delegates representing 206 members of the Global Network and observer organisations, including the International Monetary Fund, the United Nations, the World Bank, INTERPOL and the Egmont Group of Financial Intelligence Units, participated in the Working Group and Plenary meetings in Paris.
