FATF reminder to Pakistan: ‘Oversee actions to combat terrorism financing’ | World News

Asian branch of Financial Action Task Force (FATF) continue to monitor PakistanThe head of the multilateral watchdog said on Friday the importance of strengthening its actions to counter terrorism financing systems and of the country fulfilling all its commitments.

FATF Chairman T Raja Kumar made the remarks at a news conference after the Paris plenary meeting, when he was asked about a visit by Hizbul Mujahideen chief Syed Salahuddin in Rawalpindi. (Rawalpindi) activities in breach of Pakistan’s commitment to combat terrorism.

“I’m not going to speculate based on specific media reports. But I think it’s important to emphasize continuing to monitor progress in Pakistan [in efforts to counter terror financing] The Asia Pacific Group is responsible,” Kumar said, referring to reports that Salahuddin had been spotted roaming the streets of Rawalpindi freely.

The Asia Pacific Group (APG) is a FATF-like regional body with 41 member countries that oversees money laundering and terrorist financing.

In October last year, the Financial Action Task Force removed Pakistan from its “grey list” after the country mainly implemented two action plans, namely Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT). The watchdog has included Pakistan in the 2018 list of countries subject to heightened monitoring of all financial transactions.

While removing it from the gray list, the FATF had said that Pakistan would have to continue its efforts to further improve its systems to combat terror financing and money laundering.

Kumar told a news conference that Pakistan has obtained two action plans with 34 action items. “FATF conducted an on-site visit to Pakistan and confirmed that Pakistan has strengthened its AML/CFT system,” he said.

He said Pakistan had taken action to “fully or substantially” complete 34 action items based on high-level political commitment to “essentially continue and maintain these further changes in its anti-money laundering system to strengthen it”.

“Now, it needs to be emphasized that, while Pakistan has been removed from the gray list, Pakistan continues to be … supervised by the Asia Pacific Group. I therefore urge Pakistan to continue working on its remaining Action Plan items to fully complete them, and to ensure that it maintains It is committed and continues to strengthen its AML/CFT system,” added Kumar.

Videos that recently surfaced online show Salahuddin with armed bodyguards leading funeral prayers for Bashir Ahmad Peer, who Ahmad Peer, a Jihadist commander, was shot dead by unidentified assailants in Rawalpindi. The video also showed Salahuddin vowing to destroy India as the crowd cheered.

The FATF plenary also decided to suspend Russia’s membership, saying the country’s “continuation and intensification of its war of aggression against Ukraine is contrary to FATF’s principles of promoting the safety, security and integrity of the global financial system and its commitment to international cooperation and mutual respect.” .

The regulator also added South Africa and Nigeria to its gray list.