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Diplomatic win for India: Pakistan to stay on ‘grey list’ of global terror financing watchdog FATF

Speed News Desk | Updated on: 22 February 2019, 15:55 IST

In a major development in February 14 terror attack, India tried its hard to keep Pakistan on a ‘grey list’ of global terrorism financing watch list following an attack in occupied Kashmir. Financial Action Task Force has strongly condemned the Pulwama terror attack at its plenary meeting. According to the initial report, Pakistan will continue to stay on the grey watch list of the Financial Action Task Force.

"The FATF notes with grave concern and condemns the violent terrorist attack last week that killed 40 Indian security forces in Pulwama," the 38-member watchdog said in a statement. "Such attacks cannot occur without money and the means to move funds between terrorist supporters," it said.

"Pakistan does not demonstrate a proper understanding of the terror financing risks posed by JuD, LeT, JeM, and persons affiliated with the Taliban... Pakistan should continue to work on implementing its action plan to address its strategic deficiencies," the FATF said.

FATF is an inter-governmental body that works to stop terror financing, among other objectives. Being on the watch list of FATF, it will be difficult for Pakistan to get loans from international lending agencies.

In Paris a meeting of the FATF, which has 38 countries as members was held. According to NDTV reports, Pakistan’s commitments to crack down on terror financing will be reviewed in this June and October. Importantly if Pakistan Prime Minister Imran Khan’s country does not meet the targets, it could be blacklisted. In June last year, Pakistan was placed on the 'grey list'

A dossier, nailing the culpability of Pakistan in the terror attack in Pulwama, will be given to the FATF," a senior intelligence official said. With this, India wants to expose Pakistan’s links with terrorism and build pressure on the neighbouring country.

Through dossier, the FATF has also been told how Pakistani agencies are providing funds to the Pakistan-based Jaish-e-Mohammed, a terror outfit, which has claimed the responsibility of suicide car bombing attack on a CRPF convoy in Pulwama last week.

Notably, The FATF blacklist means, the country listed in the watch list means its concerned is "non-cooperative" in the global fight against money laundering and terrorist financing. Accordingly, if FATF blacklists Pakistan, it will downgrade the country by enders like International Monetary Fund, World Bank, Asian Development Bank and European Union.

Also read: UNSC condemns Pulwama terror attack, names Jaish-e-Mohammad

First published: 22 February 2019, 15:24 IST