Published 11:24 IST, August 22nd 2020
Pakistan sanctions 88 terrorists from Daesh, al-Qaida & Taliban to avoid FATF blacklist
Apart from imposing sanctions on more than 88 terrorists. Pakistan government has also seized the bank accounts and properties of the terrorists in the country
Pakistan on Friday, August 21 imposed sanctions on more than 88 terrorists associated with different terror groups including Daesh, al-Qaida, and Taliban, in order to avoid a demotion from the Financial Action Task Force's (FATF) grey list to the blacklist during the upcoming October plenary meeting
According to media reports, the Pakistan government has also seized the bank accounts and properties of the terrorists in the country and have also banned them from traveling aboard.
Since June 2018, Pakistan is on the FATF grey list. The government was given a final warning in February to complete the remaining action points by June 2020 in order to avoid demotion. The FATF extended the June deadline to September due to the coronavirus pandemic that interrupted the FATF plenary meetings.
"The sanctions are being implemented by Pakistan in compliance with the relevant UNSC resolutions and we hope that other countries will also follow suit", a statement from the Foreign Office stated. Prime Minister Imran Khan on Friday also had chaired a meeting for reviewing the economic, political situation and progress of the legislations related to the FATF action plan.
Pakistan sends an initial draft report to FATF
Pakistan has also submitted its initial draft report to the joint group of FATF earlier this month. The draft showed its compliance of the remaining 13 points out of 27 action points pertaining to terror funding, ahead of the plenary meet scheduled for October, according to media reports. Pakistan sent its first draft to the FATF on August 6 and is expected to share its updated version of the progress report to the FATF review group in the first week of September.
In the month of July, Pakistan Financial Monitoring Unit director-general Lubna Farooq informed the National Assembly Standing Committee on Finance that the country is yet to comply with 13 conditions out of the 27-point Action Plan of the FATF including curbing terror financing, enforcement of the laws against the prescribed organisations and improving the legal systems. The 13 conditions that remain unimplemented in the country are related to curbing terror financing, improving the legal systems, and enforcement of the laws against the prescribed organisations, as per media reports.
In order to avoid FATF blacklist, Pakistan needs to demonstrate the effectiveness of sanctions including remedial actions to curb terrorist financing in the country. It will also need to ensure improved effectiveness for terror financing of financial institutions with particular to banned outfits. The country is yet to take action against illegal money or Value Transfer Services (MVTS) such as Hundi-Hawala.
About FATF
The FATF is an inter-governmental body established in 1989 to battle out money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF currently has 39 members including two regional organisations the European Commission and Gulf Cooperation Council. India is a member of the FATF consultations and its Asia Pacific Group.
(With ANI inputs)
Updated 11:24 IST, August 22nd 2020