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Posts tagged as CFT

FATF urges Pakistan to reassess militant outfits’ ranking

ISLAMABAD: The Financial Action Task Force (FATF) has not accepted Pakistan’s low to medium risk ranking of eight banned militant groups – including Jaish-e-Mohammad (JeM) that claimed responsibility for Pulwama attack – and urged Islamabad.
The global body, working to curb money laundering and terrorism financing, also urged Pakistan to swiftly implement its 27-point Action Plan.Pakistan will remain on the FATF grey list, although India tried to get it blacklisted.Pakistan has now two more months to satisfy the FATF’s concerns, as it now has to deliver on 16 more action points by May in addition to five outstanding points that originally had to be met by January this year.
The face-to-face meeting of the Review Group will now take place in April before FATA again reviews Pakistan’s case.“Pakistan has revised its TF (terrorism financing) risk assessment, however, it does not demonstrate a proper understanding of the TF risks posed by Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban,” said an FATF  public statement issued after its week-long plenary meeting.
India presses for Pakistan to stay on terror financing listIn its Terrorism Financing Risk Assessment Report, Pakistan assessed majority of these organisations except Taliban and Haqqani network as low to medium risk entities, said a Pakistani delegate while speaking on condition of anonymity. He said the FATF was of the view that all of these organisations including JeM pose high risks to other countries.The JeM took responsibility of February 14 attack at Pulawma in Indian Occupied Kashmir (IOK). India immediately blamed Pakistan after a young suicide bomber, a native of the IOK, drove his explosive laden vehicle into a convoy of Indian security forces, killing nearly three dozen soldiers.
Pakistan on Thursday also banned Jamaat-ut-Dawa (JuD) and Falah-e- Insaniat Foundation (FiF)– two organisations that India believes are front for the banned Laskhar-e-Taiba (LeT). The FATF wanted Pakistan to treat these eight outfits as high risk entities and take actions against them accordingly.Pakistan has taken steps towards improving AML, CFT: FATFIndia was at forefront to get Pakistan blacklisted during the International Cooperation Review Group (ICRG) meeting but it did not press the demand during the final plenary meeting. India was backed by the United States and other powers, said a Pakistani official.
“Given the limited progress on action plan items due in January 2019, the FATF urges Pakistan to swiftly complete its action plan, particularly those with timelines of May 2019,” said the public statement.Since June 2018, Pakistan has made a high-level political commitment to work with the FATF and APG to strengthen its anti-money laundering and countering financing of terrorism (AML/CFT) regime and to address its strategic counterterrorist financing-related deficiencies.
“Pakistan has taken steps towards improving its AML/CFT regime, including by operationalising the integrated database for its currency declaration regime,” said the FATF. “Pakistan should continue to work on implementing its action plan to address its strategic deficiencies.”Pakistan is again asked to adequately demonstrating its proper understanding of the TF risks posed by the terrorist groups and conducting supervision on a risk-sensitive basis.It has to demonstrate that remedial actions and sanctions are applied in cases of AML/CFT violations, and that these actions have an effect on AML/CFT compliance by financial institutions.The country should demonstrate that facilities and services owned or controlled by designated person are deprived of their resources and the usage of the resources.Pakistan will also has to show that competent authorities are cooperating and taking action to identify and take enforcement action against illegal money or value transfer services (MVTS).
The FATF also underlined that the country needs to show that the authorities are identifying cash couriers and enforcing controls on illicit movement of currency and understanding the risk of cash couriers being used for TF.The inter-agency coordination including coordination among provincial and federal authorities on combating the TF risks has also been emphasised again by the FATF.

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Government committed to implement NAP in letter and spirit: Fawad

ISLAMABAD (Dunya News) – Minister for Information and Broadcasting Chaudhry Fawad Hussain has reiterated the government’s commitment to implement the National Action Plan.
In a statement, he said the National Security Committee (NSC) has taken a decision in this regard and the Plan is being implemented with consent of all political parties.The Information Minister told that India is leveling baseless allegation regarding a Madrassa in Bahawalpur by terming it as headquarters of Jaesh-e-Mohammad which has no reality.He confirmed that Punjab government has taken over the administrative charge of the Madrassa and would take a delegation of journalists to it so they can analyze the facts themselves.Fawad Chaudhry notified that more than 700 students are studying at the Madrassa and it has nothing to do with the activities in Occupied Kashmir. Punjab government takes charge Punjab government on Friday took charge of Madressatul Sabir and Jama-e-Masjid Subhanallah in Bahawalpur.
A Spokesman of the Ministry of Interior has said that the government of Punjab has taken over the control of a campus comprising Madressatul Sabir and Jama-e-Masjid Subhanallah in Bahawalpur, reportedly the Headquarters of Jaesh-e-Mohammad and appointed an administrator to manage its affairs, says Press Information Department (PID).The Spokesman said that the action was taken in line with the decision of the National Security Committee meeting held yesterday under the chairmanship of Prime Minister Imran Khan.He maintained that the campus has a faculty of 70 teachers and currently 600 students were studying in it.The Punjab police is providing security and protection to the campus, he added.
Groups bannedThe government on Thursday also gave approval to ban two groups during the NSC meeting.Jamaat-ud-Dawa and Falah-e-Insaniat Foundation were designated proscribed organisations, the interior ministry said in a statement, adding that Prime Minister Imran Khan had ordered officials to accelerate action against banned groups.
FATF advises further actionThe meetings of Financial Action Task Force (FATF) at OECD, Paris reviewed the compliance of a number of countries with the international standards on Anti-Money Laundering and Counter Financing of Terrorism (AML-CFT).Pakistan was earlier placed by FATF in its Ongoing Compliance Document in view of an Action Plan undertaken by it to strengthen its CFT Regime.
The FATF reviewed the progress made by Pakistani authorities concerned with CFT role, based upon an analysis carried out by Asia-Pacific Joint Group.The FATF noted that Pakistan took several steps to implement the Action Plan including by undertaking Risk Assessment of Terrorism Financing and Cash Smuggling in the country.FATF advised Pakistan to take further actions that include detailed assessment of TF Risk, strengthening of AML/CFT supervisory measures by the regulatory authorities, financial inquiries and investigations into terrorist funding activities and promotion of awareness among the citizens on CFT measures and controls.

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