[ad_1]
Struck by Pakistan, the world's financial authority, the FATF placed Pakistan on its "gray list" at a plenary meeting in Paris, saying Pakistan had not acted against the financing of terrorism on its soil.
Pakistan's place on the list was taken in February this year, Islamabad was asked to submit a plan of action as to what it will do to combat the financing of terrorism and increase its efforts against terrorism.
In the exclusive details India Today has acceded to, Pakistan in its 26-point action plan has launched a concerted diplomatic offensive to avoid the "gray list".
The 26-point action plan was divided into four broad categories: 1. Improving regulatory performance, 2. Improving cross-border controls 3. Improving legal provisions and 4. Improving the application of all the designated entities of the United States under resolutions 1267 and 1373.
India Today learned that Pakistan, under the fourth category, called global terrorists Hafiz Saeed, his son Talha Saeed, Zak I-re -Rehman Lakhvi, et al. This is a significant development since Pakistan has not only promised to improve the performance but has also promised the "prosecution" of these individuals.
The list also includes Lashkar-e-Taiba (LeT), Jamaat-ud-Dawaa (JuD), Falah-e-Insaniyat (FiF), and Jaish-e-Mohammad (JeM) terrorist organizations at the time. except for ISIL / Daesh / IS, Al Qaeda, Taliban. The Pakistani side has promised the freeze of all properties and financial resources.
The Pakistani delegation was led by Finance Minister Shamshad Akhtar, who represents the interim government in Pakistan, as well as senior officials from the Ministry of the Interior and Foreign Affairs. Dr. Akhtar urged the FATF to suspend the decision to put Pakistan on the "gray list" since Pakistan was making efforts and that the new government in Pakistan should have a chance to prove itself on July 25. ] Another major fact, unlike February, the Pakistani friend of all time, China, did not oppose the gray list of Pakistan in plenary session. The Indian delegation ran into obstacles to ensure that everyone was in agreement, but difficult individual negotiations made it possible to reach consensus.
Although China has tried to support Pakistan Kang said: "We will not comment on the decision of the working group, but we understand that Pakistan has made tremendous efforts for counter-terrorism and made great sacrifices. "
Terrorist Financing Operational Action Plan, which provides a framework for a flexible and dynamic response to terrorist financing threats.
The role of the FATF in leading global efforts in this area was emphasized at the International Conference on the Financing of Terrorism. Terror ", on the initiative of French President Macron, which took place in Paris on 25 and 26 April 2018.
Improving the identification and understanding of terrorism Delegates discussed the work ongoing in this area, including the review of the risks, threats and vulnerabilities badociated with crypto-badets, and an update on the funding methods employed by ISIL, QA and its affiliates. 19659002] The FATF was not convinced by Pakistan's arguments to suspend its decision to clbadify them in gray, instead the world financial observer proposed to Pakistan a 10-point program to ensure the implementation of its "plan of action" by demonstrating a "high level political commitment" to work with the FATF and the APG, money laundering and the fight against the financing of terrorism) and to remedy its financial shortcomings. The FATF has listed in its documents the objectives for Pakistan:
(1) Demonstrate that TF (terrorist financing) risks are properly identified, badessed and that monitoring is applied to a risk-sensitive basis;
(2) Demonstrate that corrective action and sanctions are applied in the event of a violation of AML / CFT and that such actions have an effect; AML / CFT compliance by financial institutions;
(3) Demonstrate that the competent authorities cooperate and take steps to identify and take enforcement action against unlawful money transfer or transfer services (MVTS)
4) Demonstrate that the authorities are identifying cash couriers and applying controls on illicit currency movements and understanding the risk of using money changers for terrorist financing; (6) Demonstrate that law enforcement agencies identify and investigate the broadest range of FT activities and that FT investigations and prosecutions target designated individuals and entities and persons and entities acting for the account or management of the designated persons or entities;
(7) Demonstrate that FT prosecutions result in effective, proportionate and dissuasive sanctions and strengthen the capacity and support of prosecutors and the judiciary; and
(8) demonstrating the effective implementation of targeted financial sanctions (supported by a global legal obligation) against all Designated Terrorists 1267 and 1373 and those acting on their behalf or on their behalf, including preventing the collection and moving funds, identifying and freezing (9) Demonstrate law enforcement against FST violations, including administrative and criminal penalties, and provincial and federal authorities cooperating in enforcement cases
(10) Facilities and services owned or controlled by designated persons are deprived of their resources and the use of resources.
Being on the "gray list" means that Pakistan will have to bear a huge economic cost. risk to the international financial system due to "strategic deficiencies" in its ability to prevent terro
Pakistan will now be directly controlled by the financial supervisory agency until it is satisfied measures taken to combat the financing of terrorism and money laundering.
Countries on the list of "Jurisdictions with Strategic Impairments" are: Ethiopia, Pakistan, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Yemen; and those who were off the list, "no longer subject to the FATF's overall AML / CFT compliance process" were Iraq and Vanuatu.
Source link
