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Unanimously agreeing to implement its decision to place Pakistan on the gray list of inaction against the financing of terrorism, the Financial Action Task Force (FATF) presented a 10-point action plan to comply with its guidelines. The failure of Pakistan in implementing the elaborated action plan could make it blacklisted the following year. After 2012-15, it is the second time that he is blacklisted and that he is facing sanctions.
The country was tasked to take action demonstrating that United Nations-designated terrorists banned terrorists such as Hafiz Saeed and Masood Azhar. The Taliban and Haqqani networks, Jaish-e-Mohammad, Lashkar-e-Taiba and their affiliates are deprived of their resources and their sources of funding are stifled.
Political Commitment
The FATF, at its plenary meeting in Paris on Friday, observed that Pakistan had this time made a high-level political commitment to work with the global watchdog and the Asia-Pacific group , of which he is a member, to strengthen his regime against money laundering and the financing of terrorism
Remedies
Pakistan will have to take measures to ensure that the financing risks terrorism are properly identified, badessed and that supervision is applied according to risk. It will also be necessary to show that corrective measures are being taken to prevent financial institutions from engaging in money laundering and terrorist financing.
The country will have to take draconian measures against illegal financial transactions, identify cash couriers and impose currency movement controls. It was recommended to improve coordination between provincial and federal authorities to combat the financing of terrorism and to enforce the prosecution and conviction of designated persons, entities and their affiliates
. supported by a full legal obligation) against all designated terrorists and those acting on their behalf or on their behalf.
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