Terror financing: Pakistan fails to understand terror groups risk, says FATF
25 Feb 2019

Pakistan has taken steps to address terror financing issues, however it does not understand the risks posed by terror groups such as Da’esh and Al Queda, the Financial Action Task Force (FATF) has warned.

The global anti-money laundering body has urged Pakistan to work on implementing its action plan to address its strategic deficiencies, including demonstrating that sanctions are applied in cases of anti-money laundering and counter-terror financing (AML/CFT) violations.

“Pakistan has revised its TF risk assessment; however, it does not demonstrate a proper understanding of the TF risks posed by Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban,” FATF said.

“[Pakistan should] demonstrate that competent authorities are cooperating and taking action to identify and take enforcement action against illegal money or value transfer services (MVTS), [and also demonstrate] that authorities are identifying cash couriers and enforcing controls on illicit movement of currency and understanding the risk of cash couriers being used for TF,” FATF explained.

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