India will make a strong case to bring Pakistan back to its “gray list” to fail to follow the anti -funding rules to Pakistan in front of FATF. A government source said this on Friday. According to PTI news, when asked if India would make a case before the Financial Action Work Force (FATF) to put Pakistan in the gray list, the source said that we would take up the matter before FATF.
Pakistan is misusing money
According to the news, the tension between India and Pakistan has increased after the terrorist attack in Pahalgam on 22 April, killing 26 civilians. India feels that Pakistan has failed to take action on terrorism arising from its region and is misusing money from multilateral agencies to buy weapons and ammunition. Countries that fail to overcome strategic deficiencies in their rule to combat wealth refinement, terrorist financing and disseminate financing and are subject to overdoration, they are placed in the gray list of FATF.
Meaning of keeping in gray list
When FATF keeps any jurisdiction under increased monitoring, it means that the country has committed to rapidly resolve the identified strategic deficiencies within the stipulated time and monitoring is being increased. Full meeting of FATF takes place in a decision -making institution, three times a year – February, June and October.
In 2018, Pakistan was placed on the gray list of FATF and gave the country an action plan to curb money laundering and terrorist financing. Subsequently, in 2022, FATF removed Pakistan from the list. India had opposed the release of installments of the IMF bailout package to Pakistan earlier this month.
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