India hopes that Pakistan will remain in the “gray list” of Global Money Laundering and Terror Financing Watchdog, in which not only will more than 4,000 terrorists disappear from their records, but the country will also give a chance to two of New Delhi’s most wanted terrorists – Maulana Masood Government sources gave this information from Azhar and Hafiz Saeed on Sunday.
A senior bureaucrat told NDTV, “Since 4,000 terrorists disappeared from their program 1V. FATF (Financial Action Task Force) will not allow Pakistan to exit the gray list.”
According to him, Pakistan too has failed to fulfill its six major obligations. “The FATF had given Pakistan a total of 27 action plan obligations for a thorough investigation into the financing of terror, of which it has so far approved 21, but has failed in some major actions,” he said.
He said that the four nominated countries America, Britain, France and Germany are also not fully satisfied with the fulfillment of their wishes in Afghanistan and the same will go against the country.
“These four countries are not satisfied with Islamabad’s commitment to take stern action against terrorist groups operating from its soil,” the official said.
FATF is due to host virtual plenary between 21–23 October. After a thorough review of Islamabad’s performance at the meeting, a final review on Pakistan’s continuation of the gray list will be taken after a full review of global commitments and standards being met.
Masood Azhar, Hafiz Saeed and Zakiur Rehman Lakhvi were the most wanted terrorists in India to be involved in a number of terrorist attacks, including the 26/11 Mumbai attack and the bombing of a CRPF bus in Pulwama, Jammu and Kashmir last year.
With Pakistan remaining on the gray list, it has become difficult to obtain financial support from the International Monetary Fund (IMF), the World Bank, the Asian Development Bank (ADB) and the European Union, adding to the problems for the cash-strapped country. .
The FATF would also judge that the competent authorities in Pakistan were taking adequate action against illegal money or value transfer services and tightened entry points used for illegal money.
FATF plenary was first scheduled in June, but Pakistan was unexpectedly relieved after temporarily postponing global surveillance and follow-up timelines against financial crimes in the wake of the COVID-19 epidemic.
The watchdog also provided a general pause in the review process, thus giving Pakistan an additional four months to meet the requirements.
To avoid the blacklist, it needs the support of three countries and has consistently received support from China, Turkey and Malaysia to dodge the label. Currently, North Korea and Iran are on the FATF blacklist. Pakistan needs 12 out of 39 votes to exit the gray list and move to the white list.
Pakistan was placed on the gray list by the FATF in June 2018 and a plan of action was given to complete it by October 2019. Since then, this country remains on that list due to its failure to comply with FATF mandates.
The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.
The FATF currently has 39 members with two regional organizations – the European Commission and the Gulf Cooperation Council.
India is a member of FATF Consulting and its Asia Pacific Group.