Pak Terror Financing

Pak made progress in countering terrorist financing: US state dept report

Pakistan has made substantial progress in countering terrorist financing and addressing regional extremist networks, a US State Department report states while also highlighting significant security challenges, including a sharp rise in terrorist attacks in 2023. The Dawn newspaper said that the report released this week commends Pakistan for completing its updated National Risk Assessment (NRA) on money laundering and terrorist financing in 2023. This assessment evaluated 87 terrorist organisations, conducted sectoral vulnerability analysis and identified donations and extortion as key funding sources for terrorism. According to the assessment, 41 groups remain active in Pakistan, leveraging cash couriers and illegal money transfer services. The report flagged porous borders with Afghanistan as critical vulnerabilities facilitating illicit financial flows. The report notes that consistent with its commitment to relevant UN resolutions, Pakistan prosecutes its returning citizens who

Unknown gunmen kill key Pakistani ISI man behind 2018 Sunjwan attack

Retired Pakistan army brigadier Amir Hamza's case is the latest in a series of killings of Pakistanis linked to ISI-controlled terrorist attacks in India

Instability disrupted economic growth; structural reforms needed: Pak FM

Pakistan's caretaker Finance Minister Shamshad Akhtar has said that political instability over the period of time has greatly disrupted the cash-strapped country's economic growth, which has to be backed by structural reforms. Addressing the Sustainable Development Conference (SDC) here on Thursday, the minister said macroeconomic stability has become more difficult in the last decade because of delays in structural reforms, protracted actions and exogenous shocks. The vulnerability of the economy has increased due to global economic shocks such as the increase in international commodity prices and tighter liquidity conditions, with Pakistan effectively priced out of the international credit markets, the Business Recorder newspaper quoted Akhtar as saying. "Vulnerability has increased due to the unsustainable debt position... Large fiscal and trade deficits over two decades have weakened the debt position, with the cost of servicing debt rising to 74 per cent of the FBR revenue in .

India waging a lonely battle to lay its hands on 26/11 attack masterminds

The United State does not remind Pakistan of its obligation to punish the perpetrators of the 26/11 attacks any more

Pakistan taken off FATF's grey list for terror financing, money laundering

Pakistan has been taken off from the grey list of the FATF, the global watchdog on terror financing and money laundering, four years after the country was put in the infamous categorisation. Significantly, for the first time, the FATF put Myanmar in the "high risk jurisdictions subject to a call for action", often referred to as the watchdog's black list. In a statement, the Financial Action Task Force (FATF) said it welcomes Pakistan's significant progress in improving its anti-money laundering, combating financial terrorism (AML/CFT) regime. The decision was taken by the FATF in its plenary held in Paris on October 20-21. "Pakistan has strengthened the effectiveness of its AML/CFT regime and addressed technical deficiencies to meet the commitments of its action plans regarding strategic deficiencies that the FATF identified in June 2018 and June 2021, the latter of which was completed in advance of the deadlines, encompassing 34 action items in total. "Pakistan is therefore n

Pakistan may exit global terror watchdog FATF's grey list on Friday

After four years, Pakistan on Friday may exit the grey list of the global watchdog on terror financing and money laundering FATF, a development that will allow it to try to get foreign funding to tide over its precarious financial situation. Till June, Pakistan had completed most of the action items given to it 2018 by the Financial Action Task Force (FATF) and a few item which were left unfulfilled including its failure to take action against UN designated terrorists, including Jaish-e-Mohammed (JeM) chief Masood Azhar, Lashker-e-Taiba (LeT) founder Hafiz Saeed and his trusted aide and the group's 'operational commander' Zakiur Rehman Lakhvi. Azhar, Saeed and Lakhvi are most wanted terrorists in India for their involvement in numerous terrorist acts, including 26/11 Mumbai terror attacks and bombing of a CRPF bus at Pulwama in Jammu and Kashmir in 2019. Pakistan was put in the inglorious list in 2018 for its failure to check risk of money laundering, leading to corruption and terro

Pak may exit FATF's grey list during watchdog's Oct 20-21 plenary: report

Pakistan is likely to exit the grey list of the Financial Action Task Force (FATF) this week after it was placed in the infamous category since 2018 for failing to check money laundering and terrorist financing, a media report said on Monday. Pakistan was included in the increased monitoring list in June 2018 for deficiencies in its legal, financial, regulatory, investigations, prosecution, judicial and non-government sector to fight money laundering and combat terror financing considered serious threat to global financial system, the Dawn newspaper reported. The Paris-based global watchdog on money laundering and terrorist financing said that the first FATF Plenary under the two-year Singapore Presidency of T. Raja Kumar will take place on October 20-21. Pakistan has made high-level political commitments to address these deficiencies under a 27-point action plan. But later the number of action points was enhanced to 34. The country had since been vigorously working with FATF and i

FATF retains Pakistan on terror financing grey list over non-compliance

FATF has retained Pak on its terrorism financing grey list and asked Islamabad to address at the earliest the remaining deficiencies in its financial system, according to a media report on Saturday.

Pak left loopholes in accounts for terror financing to dodge FATF scrutiny

Pakistan has deliberately left loopholes in small savings accounts to help financing terrorist groups, many of whom enjoy the patronage of the state

Pak to stay on FATF 'grey list', asked to address 'serious deficiencies'

FATF president said Pakistan is yet to demonstrate taking action against the UN designated terrorists and their associates

Relations with Pakistan at 'historic low': French President's top advisor

French President Macron's top advisor, Emmanuel Bonne on Thursday said that the relations between France and Pakistan are at a 'historic low' amid a spat of terror attacks in the former nation

Mumbai attack mastermind, LeT operations commander Lakhvi arrested in Pak

Lakshar-e-Taiba (LeT) operations commander Zaki-ur-Rehman Lakhvi was on Saturday arrested in Pakistan on terror financing charges

Pakistan court jails JuD spokesperson for 32 yrs in terror financing cases

The suspects were presented in the court in high security and media was not allowed to enter the court premises during the case proceedings.

Pak court sentences 3 aides of Hafiz Saeed in two terror financing cases

The JuD leaders were present in the court as Presiding Judge Ijaz Ahmad Buttar announced the sentence in two cases of 2019

Pakistan to stay on global terror financing 'grey list' till Feb 2021

In a statement, the Financial Action Task Force urged Pakistan to complete an internationally agreed action plan by February 2021

Pak's Oppn-dominated Senate blocks another FATF-related anti-terror bill

Thirty-one members voted in favour of the bill on terror financing while 34 opposed it

Pak passes bill to regulate cooperative societies against terror financing

The lower house suspended the rules to pass the bill without sending it to the relevant standing committee. The bill will amend the Cooperative Societies Act, 1925

Pak banks may lose biz if Imran govt doesn't implement FATF plan: Moody's

In a report, Moody's Investors Service said the announcement is credit negative for Pakistani banks

Mumbai attack mastermind Hafiz Saeed sentenced to 11 years in jail

The court sentenced Saeed to five and a half years and imposed a fine of Rs 15,000 in each case

Hafiz Saeed terror financing trial delayed for 4th time over lawyers strike

Saeed, 69, is detained at the high-security Kot Lakhpat jail here.