The Financial Action Task Force (FATF), an intergovernmental financial watchdog, established by the G-7 Summit in 1989, has slammed Pakistan for its complicity in financing terrorist entities. It said, certain UN-designated terror groups in the country receive money due to lack of government control.
The six-day FATF Plenary which concluded on Friday in Valencia under the presidency of Spain discussed a report on Pakistan’s hand in terror financing. Following this, the International Cooperation Review Group (ICRG) requested the Asia Pacific Group (APG) to provide the revised follow-up report on Pakistan to it next month.
In case, the APG decides not to provide the report, the ICRG has permitted its co-Chairs to ask Pakistan to comprehensively report to it directly in September on updates regarding it’s implementation of UN Resolution with respect to designated terror groups.
Pakistan’s continued monitoring by the ICRG is in sharp contrast to Afghanistan, which it has recommended removing from the ICRG Compliance Document after finding their on-site visit report satisfactory.
The FATF was established to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and combat other related threats to the international financial system.