Tag : CFT

New Delhi (The Hawk): India has urged Pakistan to keep up its "credible, verifiable, irreversible, and ongoing" efforts to combat terrorism and the financing of terrorism that comes from its controlled areas. Arindam Bagchi, a spokesperson for the foreign ministry, made the comments in response to questions from the media on Friday regarding Pakistan's removal from the Financial Action Task Force (FATFgrey )'s list. In a statement, Bagchi stated that it is in everyone's best interest for the world to continue to understand that Pakistan must continue to take serious, verifiable, irreversible, and persistent action against terrorism and terrorist finance coming from its controlled territory. In response to FATF monitoring, he continued, "Pakistan has been obliged to take action against well-known terrorists, including those involved in attacks against the entire international community in Mumbai on 26/11." The spokesperson added, "We understand that Pakistan will continue to collaborate with the Asia Pacific Group on Money Laundering (APG) to further enhance its Anti Money Laundering (AML)/Counter Terror Financing (CFT) system. The FATF declared in a statement that Pakistan is no longer under its stricter monitoring regime. According to reports, the FATF applauded Pakistan for making "substantial progress" in strengthening its AML/CFT (anti-money laundering & counter-terrorist financing) framework. Due to shortcomings in its legal, financial, regulatory, investigation, prosecution, judicial, and non-government sectors in combating money laundering and combating terror financing, which are regarded as serious threats to the global financial system, Pakistan was added to the jurisdictions under the increased monitoring list in June ...