FATF

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FATF | On the warpath against terror financing

FATF | On the warpath against terror financing FATF’s 8 POINT AMENDMENT # In October 2001, in the wake of the 9/11 terror attacks in the U.S., the plenary session of a little-known global organisation based in Paris working on money laundering and white collar crimes, the Financial Action Task Force (FATF), met in Washington DC to discuss a radical shift in its goals. # It was already very clear to U.S. investigators that the attacks pointed to a terror network around the world fr

About FATF

About FATF The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. The inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society. As a policy-making body, the FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas. With more than 200 countries and jurisdictions committed to implementing them

Brief reprieve: On Pakistan and the terror financing watchdog

Brief reprieve: On Pakistan and the terror financing watchdog Context # According to reports in Pakistan and India, the Financial Action Task Force, the global watchdog group, has decided to grant Pakistan and other countries on its watch list a three-month extension on fulfilling commitments, in view of the pandemic. Pakistan’s status # Pakistan was placed on the grey list or “increased monitoring” list in June 2018, and given time until October 2019, i

29 June, 2020
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The shade of grey: On FATF's mandated tasks

The shade of grey: On FATF's mandated tasks Context The decision by the Paris-based watchdog, the Financial Action Task Force, last week to retain Pakistan on its greylist has clearly disappointed the Imran Khan government. His cabinet had projected confidence that the country would be taken off the greylist — monitored jurisdictions on terror financing and money laundering activities — having been cleared on 21 of the 27 mandated action points. Impacts on Pakis

27 October, 2020
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FATF, Terrorism and Pakistan

FATF, Terrorism and Pakistan What is the news? Nearly five years after he was released on bail in the 26/11 Mumbai attacks case, Lashkar-e-Taiba (LeT) operations commander Zaki-ur-Rahman Lakhvi was arrested in Pakistan by its Counter Terrorism Department (CTD) on charges of using terror funds. The timing of the arrest is significant as it comes ahead of meetings of the global watchdog Financial Action Task Force (FATF) and its Asia Pacific Joint Group (APJG, which will consider Pakist

FATF and arrest of Lakhvi by Pakistan

FATF and arrest of Lakhvi by Pakistan The timing of Pakistan’s arrest of Zaki Ur Rahman Lakhvi, the LeT operations commander, and linked to the 2008 Mumbai attacks, just ahead of the next meeting of the global watchdog, the Financial Action Task Force (FATF), has been greeted with scepticism in India. Whenever Pakistan has faced a decision on its “grey list” status, it has carried out similar actions that appear to be aimed more at ensuring a better outcome for itself

FATF, Pakistan and India

FATF, Pakistan and India In his speech to the UN Security Council (UNSC) marking 20 years since the resolutions that announced a global commitment to the war against terror after the U.S. 9/11 attacks, External Affairs Minister S. Jaishankar made a pitch for greater coordination between counter terrorism agencies worldwide. He highlighted the necessity to streamline the process of the UN’s top body in designating terrorists while strengthening coordination in the agencies that che

Pakistan to remain on FATF greylist

Pakistan to remain on FATF greylist Pakistan was retained on the greylist, or the list of countries under “increased monitoring”, by the Financial Action Task Force (FATF), as the Paris-based UN watchdog judged it deficient in prosecuting the top leadership of UN Security Council-designated terror groups, including Lashkar-e-Taiba, Jaish-e Mohammad, Al Qaeda and Taliban. In addition, the FATF handed down another six-point list of tasks, mainly on money laundering actions.

Pakistan government to set new rules to meet FATF requirements

Pakistan government to set new rules to meet FATF requirements Pakistan, keen to exit from the grey list of the FATF, is set to introduce new rules relating to anti-money laundering cases and change the prosecution process to meet its remaining tough conditions. Pakistan was put on the grey list by the Paris-based Financial Action Task Force (FATF), the global watchdog for money laundering and terror financing in June 2018 and the country has been struggling to come out of it. The Dawn