New Delhi: India has said that Pakistan must continue to take “credible, verifiable, irreversible and sustained” action against terrorism and terrorist financing emanating from territories under its control. The remarks were made by Foreign Ministry spokesperson Arindam Bagchi on Friday in response to media queries on the removal of Pakistan from the gray list of the Financial Action Task Force (FATF). “It is in the global interest that the world is clear that Pakistan must continue to take credible, verifiable, irreversible and sustained action against terrorism and terrorist financing from territories under its control,” Bagchi said in a statement. “As a result of the FATF investigation, Pakistan has been compelled to take certain actions against well-known terrorists, including the 26/11 attacks in Mumbai against the entire international community,” he said.
“We understand that Pakistan will continue to work with the Asia Pacific Group (APG) on money laundering to further improve its Anti Money Laundering (AML) / Counter Terror Financing (CFT) system,” the spokesperson added.
In a statement, the FATF announced that Pakistan is no longer subject to its enhanced surveillance process. The FATF reportedly welcomed Pakistan’s “significant progress in reforming its AML/CFT (Anti-Money Laundering and Anti-Terrorist Financing) regime”.
“…As a result of the FATF investigation, Pakistan has been compelled to take certain actions against well-known terrorists, including those involved in the 26/11 attacks against the entire international community in Mumbai..,” Ministry of External Affairs (MEA) spokesperson Arindam Bagchi says. pic.twitter.com/VwWv7EobxZ— ANI (@ANI) 21 October 2022
Pakistan was included in June 2018 under an enhanced watch list for deficiencies in its legal, financial, regulatory, investigative, prosecuting, judicial and non-governmental sectors in combating money laundering and combating terror financing, which have been identified as global financial security concerns. considered to be a serious threat. Arrangement
Islamabad made high-level political commitments to address these shortcomings under a 27-point action plan. But later the number of action points was increased to 34.
According to Dawn’s report, the country has since been working with the FATF and its partners to strengthen its legal and financial systems against money laundering and terror financing to meet international standards in line with the FATF 40 Recommendations .
A 15-member joint delegation from the FATF and its Sydney-based regional partner – the Asia Pacific Group – visited Pakistan from August 29 to September 2 to verify compliance with the 34-point action plan committed to Pakistan. FATF.
Officials, who kept the delegation’s nationwide visit a low profile, later termed it “a smooth and successful visit”. The delegation held detailed discussions with the agencies concerned as per the authorization of the onsite visit by FATF Plenary in June 2022.
Pakistan believed that as a result of consistent and consistent efforts over the past four years, it has not only achieved a high level of technical compliance with FATF standards, but also achieved a high level of technical compliance through the implementation of two comprehensive FATF Action Plans. effectiveness is also ensured.