FATF issues one more warning to Pakistan, will ‘Black List’ it if no satisfactory answers are received

Islamabad: Pakistan, who failed to provide satisfactory answers to 22 out of the 27 questions posed by the Financial Action Task Force (FATF), has been retained in the ‘Grey List’. Pakistan attempted answering these 22 questions at length. Dissatisfied with the answers, FATF has asked 150 more questions to Pakistan. The FATF officials have issued a stern warning that if satisfactory answers to these questions and robust action to stop terrorist funding are not forthcoming from Pakistan, it will be included in the Black List.

On 6th of December, Pakistan submitted the report answering objections raised by the FATF. But it has been observed from the report that extremists and terrorists are still active in Pakistan and Pakistan is not willing to take intense action to stop terror funding. Serious cognisance has been taken of this fact and it has been revealed that the FATF has conveyed its displeasure to Pakistan. 150 new questions have been asked to Pakistan regarding this and Pakistan has been warned that if Pakistan is unable to provide satisfactory explanations, there is no alternative but to include Pakistan in the Black List.

FATF issues one more warning to Pakistan, will ‘Black List’ it if no satisfactory answers are receivedPakistan has become a centre for the terrorists and the leaders of terrorist organisations have the freedom to move about in that country. It has been repeatedly reported that the terrorist organisations openly collect funds in Pakistan and use them to carry out saboteur activities in other countries. The terrorist activities in Pakistan have not stopped despite the imposition of sanctions by the United States and the United Nations. The reason being, the terrorist organisations, create an alternative outfit and transfer the funds into those accounts before the sanctions are implemented. ISI, the infamous intelligence agency of Pakistan takes the lead in leaking this information to the terrorists, has also been exposed many times.

Therefore, FATF the organisation keeping track of the financial transactions of the terrorists and responsible for drying up their funding sources has taken Pakistan to the task. FATF gave the last opportunity to Pakistan by including it in its Greylist. Pakistan will stay in the Greylist till 2020 February. FATF has warned that if Pakistan fails to take an intense action to block the sources of terror funding till that time, Pakistan will be included in the Black List.

It has been observed that Pakistan is still not serious regarding the matter and therefore, 150 questions have been posed in front of it, by the FATF. These questions include actions against Madrasas and many such important issues.

In the future, if Pakistan is included in the Black List of the FATF, no international financial institution can provide loans or assistance to Pakistan. This will also stop investments in Pakistan. This could be the ultimate blow to the already-sinking Pakistan economy. The responsible analysts in that country are criticising that Pakistan is not paying attention to the issue, despite all this.

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