FATF warns Pakistan to curb terror funding by October or get downgraded to blacklisted: The Financial Action Task Force (FATF) has threatened to place Pakistan on its ‘black list’ as the country has consecutively failed for the second time to curb terrorism sheltering on its soil, a report said on Saturday. The global watchdog had ordered the country to implement a 27-point plan to put a seal on terror financing and money laundering by October 2019. The country is already on the grey list of the global watchdog for its inadequate efforts to counter terror financing. Meanwhile, China, Turkey and Malaysia have been supporting Pakistan to avoid being placed in the black list but none of the countries had opposed the warning given by the UN-backed organisation.
The FATF in a statement said that it had urged the country to swiftly complete its action plan by October 2019 or the FATF would decide the next step for insufficient progress. Several countries including India have claimed that Pakistan is yet to match its anti-terror law with the standards set by the global body. The country has also failed to take stringent actions against several UN-designated terrorists, mainly Lashkar-e-Taiba (LeT) chief Hafiz Saeed and Jaish-e-Mohammad (JeM) chief Masood Azhar.
The report also quoted several FATF members who claimed that Pakistan had not even registered any cases against the two terrorists. However, Pakistan dismissed the allegations saying it had done enough as it seized over 700 properties belonging to different terrorist organisations.
Pakistan had seized properties belonging to the Lashkar-e-Taiba, Jamaat-ud-Daawa, Falah-i-Insaniyat Foundation and the Jaish-e-Mohammed, although India and other FATF countries have pointed out that seizures do not necessarily indicate compliance.
FATF has also sought action and detailed report from Pakistan on why is it yet to investigate the source of funding to terrorist organisations along with what actions it has taken against terrorist assets including, armouries, weapons, explosives and camps etc.