• About Us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI English
TFI हिन्दी
Sunday, February 5, 2023
TFIGlobal
TFIGlobal
Right Arm. Round the World. FAST.
No Result
View All Result
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
TFIGlobal
No Result
View All Result

FATF pressure mounts on Pakistan, 8,707 suspicious transactions reported in 2018

Amit Agrahari by Amit Agrahari
March 5, 2019
in Geopolitics, Indian Subcontinent
Reading Time: 3 mins read
0
pakistan, FATF

(PC: Dawn)

167
VIEWS
Share on FacebookShare on Twitter

Financial Action Task Force (FATF), the global terror financing watchdog has reported 8,707 suspicious transactions in Pakistan in 2018. The FATF presented a 10 point action plan to achieve 27 targets against terror financing in the country. Jamat-ud-Dawa (JuD) and Falah-e-Insanyat Foundation (FIF) were banned by Pakistan when the meeting of FATF was going on and the organization was considering ‘blacklisting’ the country. The Financial Monitoring Unit issued 8,707 suspicious transaction reports (STRs) against 5,548 STRs in 2017, which shows a 57 percentage increase. 1,136 STRs were issued in January and February alone.

In the wake of the Pulwama attack, India has decided to lobby for the blacklisting of Pakistan in the FATF plenary meeting. The decision is another nail in the coffin of Pakistan, which is currently on the FATF grey list. In the last plenary meeting of the FATF, Pakistan was placed in the grey list for financing terrorism. FATF is an inter-governmental organization founded in 1989. Its main objectives are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terror financing and other related threats to the integrity of the international financial system.

Also Read

Pakistan refuses to deport Canada bound migrants

Bankrupt Chinese companies now want other nations to rescue China’s BRI

FATF said that Pakistan did “not demonstrate a proper understanding of the terror financing risks posed by Islamic State group, AQ (Al Qaeda), JuD, FIF, LeT (Lashkar-e-Taiba), JeM, HQN (Haqqani Network), and persons affiliated with the Taliban.” The FATF prepares two lists the ‘black list’ and ‘grey list’. If a country is included in the blacklist then it has to face international sanctions. Iran and North Korea are the countries put in the blacklist and Pakistan could be there if it does not take action against terror financing. The countries which are included in the blacklist are not allowed to issue government bonds through which the government of a country borrows from the international market. Although Pakistan is not included in the blacklist until now, being included in the grey list had already made its sovereign bonds less attractive to international investors.

Pakistan was placed on the FATF grey list from 2012 to 2015 as well. In the review meeting last year, Pakistan had failed to comply with the anti-money laundering and terror funding guidelines of FATF. The good thing for India is that the case against the neighboring country includes its torpor against the UN-banned terror groups like Taliban and Haqqani Network, Jaish-e-Mohammed, Lashkar-e-Taiba, Jamaat-ud Dawah and its affiliate Falah-i-Insaaniyat Foundation, besides terrorists including the mastermind of Mumbai 26/11 terror attacks Hafiz Saeed and Masood Azhar.

After a country is added in the grey list, three reviews are conducted, followed by a round at which it will be decided whether a country is to be blacklisted. Pakistan’s first review was in October 2018 and the third will be in June 2019. The meeting on blacklisting will take place in October 2019. Interestingly, the current chair of FATF is the United States and the vice president is China, which did not oppose Pakistan being placed on the grey list. However, China cannot be trusted while dealing with Pakistan.

If Pakistan gets placed on the blacklist then it will further isolate the country internationally. Since the BJP government came to power, it has worked towards isolating the neighbouring state internationally and diplomatically.

Tags: Pakistan
Share2652TweetSend
Previous Post

Inflation highest, currency lowest: State of Pakistan’s economy under Imran Khan

Next Post

Pakistan to officially become a terror state, set to recruit terrorists in para-military

Also Read

India-Africa team up to drive out EU

India-Africa team up to drive out EU

February 5, 2023
US’ fear of Wagner is driving it crazy

US’ fear of Wagner is driving it crazy

February 5, 2023
EU Xinjiang

EU’s malicious encashment of forced labour is a revelation of its true evil face

February 4, 2023
Nord Stream US

An energy-secured Germany blames US for Nord Stream sabotage for the first time

February 4, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Trending
  • Comments
  • Latest
US Ukraine

Russia unearths USA’s empire of terror in Ukraine

February 4, 2023
World Economic Forum

“Sex, sleaze, and drugs” is what WEF is all about

January 18, 2023
Did Ukraine use innocent civilians as human shield against Russia in the name of evacuation?

Did Ukraine use innocent civilians as human shield against Russia in the name of evacuation?

May 9, 2022
Ukraine weapons

3 nations spoil Biden’s plan to fuel Ukraine war with South American ammunition

January 31, 2023
Orwellian “Ministry of Truth” becomes a reality in Biden’s America

Orwellian “Ministry of Truth” becomes a reality in Biden’s America

April 28, 2022
Biden creates a Copper crisis across the world?

Biden creates a Copper crisis across the world?

February 5, 2023
Trudeau sponsored Green Fear-Mongering to justify Canada’s demographic crisis

Trudeau sponsored Green Fear-Mongering to justify Canada’s demographic crisis

February 5, 2023
The Caribbean NATO could be a reality now!

The Caribbean NATO could be a reality now!

February 5, 2023
Proving Their Mettle: St.Kitts and Nevis Takes on Money-Laundering

Proving Their Mettle: St.Kitts and Nevis Takes on Money-Laundering

February 5, 2023
Seeds of hatred have germinated between Trinidad and Tobago and Venezuela

Seeds of hatred have germinated between Trinidad and Tobago and Venezuela

February 5, 2023
Youtube Twitter Facebook
TFIGlobal
  • About us
  • Contact Us
  • Terms of use
  • Privacy Policy

©2023 - TFI MEDIA PRIVATE LIMITED

No Result
View All Result
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

©2023 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Follow us on Twitter

and never miss an insightful take by the TFIGlobal team

Follow @tfiglobal
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.