Pakistan has been blacklisted by Financial Action Task Force for terror funding

FATF blacklist Pakistan for terror funding – Pakistan has been put in an “enhanced blacklist” by Financial Action Task Force for terror funding. The FATF group has found Pakistan non-compliant on 32 out of 40 compliance parameters on terror financing. In June 2019, FATF issued a warning to Pakistan to control terror financing by October or get ready for the consequences.

At that time, FATF warned Pakistan that if they will not stop terror funding, the country could be blacklisted unless it fulfills an action plan against UN-designated terrorists by this October.

In the past, India had suggested FATF to put Pakistan on the blacklist of countries that fail to fulfill international standards in stopping terror funding following Pakistan-based Jaish-e-Mohammed Chief Masood Azhar being declared a global terrorist by the UN.

FATF blacklist Pakistan for terror funding

FATF blacklist Pakistan for terror funding

The FATF APG meeting was held in Canberra, Australia and the discussions lasted for seven hours over two days.

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What is the Financial Action Task Force (FAFT)?
The Financial Action Task Force (FATF) is an intergovernmental organization to develop policies to combat money laundering. In 2001 its authority expanded and terrorism financing was included.

FATF blacklist Pakistan for terror funding
The objectives of the FATF is to set standards and promote productive execution of legal, regulatory and operational measures for combating money laundering, terror financing and other related threats to the integrity of the international financial system.

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Importance of FATF?
The FATF’s role is to prevent financial crime. The Financial Action Task Force is one of the most influential organizations with regard to fighting financial crimes such as money laundering, terror financing, and other forms of corruption.

 

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