FATF, the global terror funding watchdog organization, has warned Pakistan that even though it was removed from the ‘grey list’ in October 2022, it does not mean that it has become completely safe from money laundering and terror funding. FATF President Elisa de Anda Madrazo said that all countries, including Pakistan, should continue working to prevent and deter crimes.
‘Keep working to stop terror funding’
“Any country that is on the gray list or was previously on the gray list is not completely safe from the activities of criminals – whether money launderers or terrorists,” the FATF president said at a press conference in France. Therefore, we urge all countries, including delisted countries, to continue their good efforts to prevent crimes.
Pakistan was removed from the FATF ‘grey list’ in October 2022 and is now being followed-up to ensure that it is implementing anti-terror funding measures. However, Pakistan is not a member of FATF, so the Asia Pacific Group (APG) is conducting this follow-up.
Pakistan is funding terrorist camps through digital wallet
The FATF President said that the countries and territories included in the gray list are monitored because serious shortcomings have been found in preventing terror funding and money laundering. Amidst these comments, reports have emerged that Jaish-e-Mohammed (JeM) is funding terrorist camps using digital wallets, thereby hiding financial transactions.
India’s National Risk Assessment 2022 had identified Pakistan as a ‘high-risk’ source of terror funding. A study report contributed by India expressed concern over the risks posed by Pakistan’s National Development Complex in South Asia. According to the report, Pakistan remains a high-risk country for proliferation financing in the region.
—- End —-
