Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
272
nda:
Needmore seats to Win
Needmore seats to Win
upa:
»
2-min read

Global Financial Watchdog Slams Pakistan For Terror Financing

As per the report, certain entities designated under UN Security Council Resolution 1267 continue to receive and disperse funds without controls being applied by the competent authorities in Pakistan.

PTI

Updated:June 23, 2017, 5:48 PM IST
facebookTwittergoogleskypewhatsapp
Global Financial Watchdog Slams Pakistan For Terror Financing
An Indian army soldier displays a Pakistani currency note beside the covered bodies of suspected militants near Srinagar. (Photo for representation: Reuters)
New Delhi: A leading international financial watchdog has slammed Pakistan for continued complicity in financing terrorist entities, saying certain UN-designated terror groups in the country receive money due to lack of control by authorities.

At a meeting in Valencia in Spain, the Financial Action Task Force (FATF), a Paris-based organization, which sets standards for banks globally, closely scrutinised Pakistan's record on terror financing.

A report on Pakistan's complicity in terror financing was discussed at the FATF Plenary, the group's highest decision-making body, which took place from June 18-23.

As per the report, certain entities designated under UN Security Council Resolution 1267 continue to receive and disperse funds without controls being applied by the competent authorities in Pakistan.

As a consequence, the International Cooperation Review Group (ICRG) of FATF has requested its regional arm Asia Pacific Group (APG) to provide the revised follow-up report on Pakistan. The ICRG asked APG to provide the report following the discussion over it at the APG annual meeting in July 2017.

In February, the ICRG had requested the APG to provide its analysis report on Pakistan.

"Given the concerns raised in this report that highlighted that there continue to be certain UNSCR 1267 designated entities that receive and disperse funds without controls being applied by the competent authorities, the ICRG recommends further reporting to the ICRG be provided either by the APG or, failing that, directly from Pakistan," the report on Pakistan said.

If the APG plenary decides not to provide the report, the ICRG granted permission to the ICRG co-chairs to request in August for Pakistan to comprehensively report directly to the ICRG in September on updates regarding Pakistan's implementation of the UNSCR 1267 with respect to designated entities of concern, the report said.

The FATF was established in 1989 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.

It has developed a series of recommendations that are recognised as the international standard for combating money laundering and the financing of terrorism.

In February 2015, when Pakistan was removed from ICRG monitoring, the FATF encouraged Islamabad to continue working with it and APG to effectively implement its AML (Anti-Money Laundering) and CFT (Combating Financing of Terrorism) systems.

"When Pakistan reported back on this matter, some ICRG members expressed a concern that these issues still had not been resolved."

"Consequently, the ICRG had referred the issue of Pakistan's implementation of UNSCR 1267 with respect to designated entities of concern to the APG for ongoing monitoring," as per the report discussed at Valencia.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Aakarshuk Sarna
Read full article
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 

Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results