Global counterterrorism watchdog – Financial Action Task Force (FATF) to open leaked Pandora Papers from Pakistan to reveal link between financial shenanigans, money laundering operations and cover-up of terrorist financing networks run by the Pakistani army with the help of shady businessmen and dubious politicians.
Federico Giuliani, writing in Inside over, said it is nothing short of a travesty that the Pandora Papers Leaks did not open a Pandora’s Box in Pakistan.
Remember that it is precisely these AML / CFT networks that pushed the Financial Action Task Force (FATF) to place Pakistan under “enhanced surveillance” or “gray list” in 2018.
After Pakistan was graylisted, it reportedly took a series of steps to fulfill “the high-level political commitment to work with the FATF and the APG to strengthen its AML / CFT regime and tackle to its strategic problems linked to the financing of terrorism. deficiencies “.
But most of these measures, especially those that involve curbing the financial networks of terrorist groups closely linked or working for the Pakistani state, have remained largely untouched.
For throwing dust in the eyes of the FATF, Pakistan has even taken legal action against terrorists designated by the UN such as Lashkar-e-Taiba (LeT) Hafiz Saeed and some of his close associates.
In very hasty trials, necessitated by the FATF’s timetable, lower courts have even sentenced Saeed and his associates to various prison terms. The fact that the first instance courts convicted these terrorists within days should have sounded the alarm at the FATF in Paris, Giuliani said.
Nothing proves it more than the Pandora Paper leaks. If the actions related to money laundering and the toughening of the financial system had indeed been completed, then either there would have been no leaks from Pandora Papers or the state would have taken action to question people. whose names were in those leaks, reported Inside Finished.
“This did not happen. The reason, as stated earlier, is that there are half a dozen senior military officers whose names are on the list and a dozen people who are part of the regime. of Imran Khan or who are closely related to people who are in the government of Imran Khan, “Giuliani wrote.
Clearly, it is the same ‘see nothing, say nothing, do nothing’ attitude that is adopted when it comes to other AML / CFT networks linked to the Pakistani state and to the Deep state, ”he added.
On the ground, the AML / CFT networks remain virtually intact and have been allowed to continue their activities as usual. If the FATF is serious, it must not only insist on action points, but also ensure that these lead to the achievement of “immediate results” (IOs).
With regard to these IOs, Pakistan’s performance, according to the FATF itself, is dismal. Pakistan’s third mutual evaluation follow-up report released in July 2021 found that out of 10 immediate outcomes, Pakistan scored low in 9 IOs and moderate in only 1 IO, Inside over reported.
The Pandora Papers bear witness to the fact that even by FATF’s own standards, Pakistan has failed.
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