On Thursday, India claims to put Pakistan on the blacklist for countries, who aren’t cooperating in the global battle against money laundering and terrorist financing.
Union Finance Minister Arun Jaitley told Delhi reporters that Pakistan was already on the grey list of the Finance Action Task Force and its meeting is scheduled in June.
Mr. Jaitley claims that “the facts that are there with India… we will keep those. There is very strict scrutiny in these bodies and we will want that consequences of downgrading in FATF list, that should apply to them (Pakistan),” a day after the UNSC has blacklisted Pakistan-based Jaish-e-Mohammed Chief Masood Azhar over India’s persistent demand.
China has lifted its “technical hold” on his listing after block listing such attempts in the past.
JeM had already claimed responsibility for the deadly terror attacks in Pulwama district of Jammu and Kashmir.
The Finance Minister said that the core issue is with Masood Azhar, who has been designated as an international terrorist, he and his country now faces the consequences of that.
External Affairs spokesman Raveesh Kumar told a media source that Pakistan will be obligated to seek action as per the procedures of FATF.
When enquired about the impact of designating Masood Azhar as the international terrorist on Pak’s FATF listing, Mr. Jaitley claims that at last FATF Plenary in February 2019, it was initiated to continue keeping Pakistan in the Grey List for International Cooperation Review Group Monitoring.
“If you go through the press statement by FATF, one of the action plans specifically mentions that Pakistan has to demonstrate effective implementation of targeted financial sanctions (supported by a comprehensive legal obligation) against all 1267 and 1373 designated terrorists and those acting for or on their behalf,” he added.
Mr. Kumar said that it includes moving of funds and preventing raising, identifying and freezing assets (both movable and immovable), and prohibiting access to financial and funds services.
He continued “At the next FATF Plenary in June next month, Pakistan will be obligated to take action as per FATF procedures.”