India on Saturday said it expected Pakistan to implement steps agreed with the international Financial Action Task Force (FATF) to eliminate funding to terrorist groups operating from its soil.
This came following a strong warning to Pakistan by the FATF which stated that the country could be blacklisted unless it fulfils by October an “action plan” against UN-designated terrorists operating on its soil.
“We expect Pakistan to take all necessary steps to effectively implement the FATF Action Plan fully within the remaining time frame i.e. by September 2019 in accordance with its political commitment to the FATF and take credible, verifiable, irreversible and sustainable measures to address global concerns related to terrorism and terrorist financing emanating from any territory under its control,” External Affairs Ministry spokesman Raveesh Kumar said.
India had pushed for Pakistan being blacklisted at the FATF’s 16-21 June Orlando meet in the wake of a series of terror attacks in India, including the 14 February Pulwama attack in which more than 40 security personnel were killed.
Pakistan had managed to secure the support of Turkey and two others to avoid being blacklisted by the FATF.
“The FATF strongly urges Pakistan to swiftly complete its action plan by October 2019, when the last set of action plan items is set to expire,” the body said in a statement at the conclusion of its week-long meeting. “Otherwise, the FATF will decide the next step at that time for insufficient progress,” it added.
The FATF expressed concern “that not only did Pakistan fail to complete its action plan items with January deadlines it also failed to complete its action plan items due May 2019”.
The FATF, however, acknowledged that Pakistan had taken steps towards improving its AML/CFT (anti-money laundering/combating the financial terrorism) regime, including the recent development of its terror funding risk assessment addendum.
The global economic watchdog had in July last year put Pakistan on its “grey list” of countries with inadequate controls over curbing money laundering and financing of terrorism.
If Pakistan is blacklisted, it would be bracketed with countries like North Korea and face the risk of crippling global sanctions.