Pakistan Put on Terror Financing Watchlist by Financial Action Task Force

Saudi China Turkey blocked US move against Pak Report

Regarding the motion moved by the U.S. and the United Kingdom at the FATF to put the country on the greylist, he pointed out that most of the concerns by the USA regarding deficiencies in anti-money laundering and combatting the financing of terrorism had already been addressed in 2015 when Pakistan got an exit from the greylist.

Three countries - China, Saudi Arabia and Turkey - joined hands in a concerted bid to block a US-led move to place Pakistan on an global terror-financing watch list on Tuesday, but Washington was reported to be engaged in behind-the-scenes efforts to have its way in a fresh vote on Thursday.

Financial Action Task Force (FATF) has added Pakistan's name to the grey-list of terror-financing watch list.

The US was supported in its attempt to put Pakistan on the watch list by major allies including the UK, France, and Germany, which are all part of the 35 nations and two regional organisations that make up the FATF membership.

Pakistan was on the FATF "grey list" from 2012 to 2015 and is now scrambling to avert being put back on the list over fears that its economy could be damaged.

Dr Faisal claimed that most U.S. concerns over deficiencies in steps taken to curb money laundering and terror financing had already been addressed in 2015, when Pakistan exited the grey-list.

Earlier in the week China, Turkey, and the Gulf Cooperation Council (GCC) were opposed the United States -led move against Pakistan.

When asked about accusations made by the Indian Army Chief that Pakistan and China are behind the influx of people from Bangladesh to India's northeast, the spokesperson termed them a figment of the Indian Army Chief's imagination. If adopted the resolution would place Pakistan on the FATF grey-list of "jurisdictions with deficient anti-money laundering regimes".

"Our efforts paid [off]", Mr. Asif wrote, adding that the committee had proposed a three-month pause with another report to be considered in June.

"Grateful to friends who helped", Asif had added.

Saudi Arabia said that it was acting on behalf of the Gulf Cooperation Council (GCC). "The Pakistanis were scrambling to shore up support", the WSJ report said.

The Financial Action Task Force is an intergovernmental body that sets standards for fighting illicit finance globally.

The embattled Pakistan has already been struggling in all fronts from terrorism and economy but its re-inclusion in FATF's watchlist would surely bring more devastating impact for the South Asian Country.



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