World: Pakistan avoids terror financing blacklist _ for now - - PressFrom - US
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World Pakistan avoids terror financing blacklist _ for now

16:40  18 october  2019
16:40  18 october  2019 Source:   msn.com

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FATF asked Pakistan to comply with a list of 27 measures -- including identifying and supervising terror financing risks and boosting controls on illicit currency movement -- to avoid joining Iran and North Korea on the blacklist . New Delhi has blamed Islamabad of training and funding militant groups

Pakistan has taken some steps to avoid the Financial Action Task Force's " black list ," but experts say the country lacks a long-term strategy to deal with the terrorism issue. Shamil Shams reports from Paris. Earlier this month, Pakistani Prime Minister Imran Khan urged Kashmiri protesters not to cross

PARIS (AP) — An international monitoring agency has given Pakistan four months to prove it is fighting terrorism financing and money laundering — or it could be put on a damaging global blacklist.

Financial Action Task Force (FATF) President Xiangmin Liu speaks during a media conference at the OECD headquarters in Paris, Friday, Oct. 18, 2019. FATF a international monitoring agency has given Pakistan four months to prove it is fighting terrorism financing and money laundering or it could be put on a damaging global blacklist. (AP Photo/Michel Euler)© Provided by The Associated Press Financial Action Task Force (FATF) President Xiangmin Liu speaks during a media conference at the OECD headquarters in Paris, Friday, Oct. 18, 2019. FATF a international monitoring agency has given Pakistan four months to prove it is fighting terrorism financing and money laundering or it could be put on a damaging global blacklist. (AP Photo/Michel Euler)

The Financial Action Task Force also threatened Iran, which is already blacklisted, with even tougher restrictions on its international financial activity.

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Pakistan has until February to improve its counter- terror financing operations in line with an internationally agreed plan or face actions against it, the Paris-based Financial Action Task Force (FATF), an inter-governmental body established in 1989 to combat money laundering and terrorist

Pakistan News: Pakistan is relying for support on friendly countries like China, Turkey and Malaysia to avert blacklisting over terrorism financing by the global wat. ISLAMABAD: Backed by longtime ally China, Pakistan is confident it will avert blacklisting over terrorism financing by a global watchdog

Pakistan's government on Friday hailed the FATF's decision, which offers a reprieve to Prime Minister Imran Khan as he works to shore up his country's faltering economy and attract foreign investment and loans.

"Thank God, we have been successful," Pakistan's foreign minister, Shah Mahmood Qureshi, told The Associated Press.

But the agency's assessment remained grim, expressing "serious concerns with the overall lack of progress by Pakistan" to stop terrorism financing.

In a statement after meetings this week at its Paris headquarters, the FATF said Pakistan has addressed only five of 27 measures required to avoid being blacklisted.

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Pakistan put on 'enhanced blacklist ' by terror funding watchdog. The Asia-Pacific Group of the global watchdog for terror financing and money laundering has put Pakistan in the Enhanced Expedited Follow Up List ( Blacklist ) for its failure to meet its standards, officials said on Friday.

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If Pakistan doesn't act by February, FATF president Xiangmin Lui said the agency could put the country on its blacklist, which currently includes only Iran and North Korea.

Experts say the move means every international financial transaction with Pakistan will be closely scrutinized and doing business in Pakistan will become costly and cumbersome. International agencies could place restrictions on lending money to Pakistan, including key creditors such as the International Monetary Fund, the Asian Development Bank and the World Bank.

"Pakistan has not done enough," Xiangmin told a news conference.

Pakistan should do more to track money transfers and investigate and prosecute terrorism financiers, among other steps, the FATF said.

Qureshi insisted that Pakistan has "taken maximum steps against terror financing."

"We will continue to take all the required steps, and all conspiracies against us have failed," he told The AP.

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Pakistan has been put on the grey list of the anti- terror finance watchdog in July 2018. The FATF currently has 35 members and two regional organisations – European Commission and Gulf Cooperation Council. North Korea and Iran are in the FATF blacklist . Forty CRPF personnel were

Pakistan could escape being blacklisted by the Financial Action Task Force (FATF) on Friday, but even if it does, the international watchdog on On Tuesday, the FATF’s International Co-operation Review Group (ICRG) discussed Pakistan ’s actions for countering terror financing and anti- money

Financial Action Task Force (FATF) President Xiangmin Liu, left, and Executive Secretary of the FATF David Lewis talk to each other after a media conference at the OECD headquarters in Paris, Friday, Oct. 18, 2019. FATF a international monitoring agency has given Pakistan four months to prove it is fighting terrorism financing and money laundering or it could be put on a damaging global blacklist. (AP Photo/Michel Euler)© Provided by The Associated Press Financial Action Task Force (FATF) President Xiangmin Liu, left, and Executive Secretary of the FATF David Lewis talk to each other after a media conference at the OECD headquarters in Paris, Friday, Oct. 18, 2019. FATF a international monitoring agency has given Pakistan four months to prove it is fighting terrorism financing and money laundering or it could be put on a damaging global blacklist. (AP Photo/Michel Euler) Meanwhile, the watchdog expressed "disappointment" that Iran isn't taking the necessary steps to be removed from the blacklist, and said it's asking all member countries to tighten scrutiny of any financial transactions involving Iran.

Virtual currencies such as bitcoin and Facebook's Libra are also prompting concern from the FATF, which warned of "new risks" from such products. It said they're being "closely monitored" to ensure they're not used to finance terrorism or launder money.

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Taveer reported from Islamabad. Kathy Gannon and Munir Ahmed in Islamabad also contributed.

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