The Financial Action Task Force (FATF) has on Monday said that Pakistan has not taken sufficient measures against Mumbai 26/11 mastermind Hafiz Saeed and other UN-designated individuals associated with Lashkar-e-Taiba, Jamaat-ud-Daawa, Falah-i-Insaniyat Foundation and the Jaish-e-Mohammed.
Asia Pacific Group (APG) that is one of the nine regional affiliates of FATF said that the Islamic country has failed to fully implement United Nations Security Council Resolution 1267.
In its latest report titled ‘Mutual Evaluation Report of Pakistan’, the APG has asked Pakistan to “identify, assess and understand” its money laundering or terror financing risks.
The Task Force has also asked Pakistan to include the risks associated with terrorist groups operating in Pakistan such as Da’esh, al-Qaeda, Jama’at-ud-Da’wa (JuD), Jaish-e-Mohammed (JeM), among other terror groups.
“Pakistan has not taken sufficient measures to fully implement UNSCR 1267 obligations against all listed individuals and entities – especially those associated with LashkareTayyiba (LeT)/Jamaat-ud-Dawa (JuD), and Falah-i-Insaniat Foundation (FIF) as well as the groups’,” the report read.
As per the report, Pak was compliant on only nine of the FATF’s 40 recommendations. It was partially compliant on 26 and non-compliant on four.
The report also disagreed with Pak’s self-assessment that it only faces medium category risks, saying that its national regulators had very limited understating of money laundering and terror financing regimes, a media report states.
It now also faces the challenge of being placed under FATF’s overall blacklist in coming days.
The APG blacklisting will possibly impair its chances of withdrawing itself from the greylist.
The Terror Task Force had in August placed the country under the list of blacklisted countries for its failure to meet its standards.
Earlier in June, the FATF has also put the country in the grey list for not making adequate efforts in curbing money laundering and terror financing.
Pak had submitted a compliance report on its action plan to the watchdog and despite concerted efforts; it could not convince them.
Pak contends that it has done enough by seizing over 700 properties belonging to the LeT, JuD, FIF; but members including India have pointed out that seizures do not necessarily indicate compliance.