FATF: Pak stares at being blacklisted due to unsatisfactory action on terror

New Delhi, June 10: Will Pakistan be able to prevent itself from being blacklisted. There is a crucial hearing of the Financial Action Task Force later this month and it would be critical for the future of Pakistan.

The FATF which monitors terror funding is set to meet at Orlando on June 20 and 21. During the meeting it would track the progress by Pakistan on a 27 point action plan. A final decision on whether Pakistan would placed on the grey list or downgraded to the black list would be taken in October when the FATF meets for its plenary in Paris.

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Ahead of key FATF hearing, Pakistan does not appear to have done much on terror funding

New Delhi, June 08: With a crucial hearing of the Financial Action Task Force later this month, Pakistan is doing all it can to avoid a terror nation tag.

The FATF which monitors terror funding is set to meet at Orlando on June 20 and 21. During the meeting it would track the progress by Pakistan on a 27 point action plan. A final decision on whether Pakistan would placed on the grey list or downgraded to the black list would be taken in October when the FATF meets for its plenary in Paris.

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Pakistan will be on terror finance watchlist from June 2018

Pakistan was put back on the terror financing ‘grey list’ by the Financial Action Task Force on Friday. With China staying neutral the fortunes of the country plunged and the United States sponsored motion managed to go through.

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Pak stares at terror nations status as FATF meets in Paris

New Delhi: Pakistan finds itself in a deep spot of bother. It has a lot at stake in the ongoing Financial Action Task Force meeting that is going on at Paris. The meeting that commenced on Sunday will take up a crucial resolution of the United States which seeks to place Pakistan on the terror watch list.

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By banning Hafiz Saeed can Pak get away from being put on global terror financing watchlist

Pakistan took a major step in declaring Lashkar-e-Tayiba boss, Hafiz Saeed as a terrorist. The move comes ahead of the crucial meeting of the Financial Action Task Force to be held next week in Paris. The FATF is an intergovernmental body based in Paris which sets the global standards for fighting illicit finance.

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Money laundering- Why is the conviction so low?

Pic: www.madhyamam.com
Pic: Sify

The Financial Action Task Force in a report yesterday states that there are 1704 cases of money laundering of various types under probe. While this is a clear indicator that the detection rate has gone up considerably, the problem however lies with the conviction which is a meagre 3 per cent including cases of terrorism.

Money laundering is of various types and the most notorious one is parking of black money in the banks with the help of its representatives. Sting operations in the recent past have revealed that various reputed banks in the country have indulged in money laundering. The other type is directly related to terrorism and crime. The drug syndicate and terrorist outfits have parked money in banks in order to make it look like a valid transaction. Continue reading “Money laundering- Why is the conviction so low?”