SATELLITE IMAGE SHOWS CHINA’S NEW FIGHTER JET DEPLOYED NEAR TAIWAN

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The Financial Action Task Force (FATF) has included Pakistan on its “grey list” since 2018. Along with 22 other people, it now has its new pal Turkey for companionship. Turkey was discovered by the FATF to be financially assisting terrorist organisations by failing to combat money laundering. –

Pakistan must adhere to the FATF obligations it made to combat money laundering. Pakistan has already completed 30 of the 34 action points, according to FATF chief Marcus Pleyer, who announced the decision to keep Pakistan on the grey list. This demonstrates the Pakistani government’s undeniable commitment. Therefore, the topic of blacklisting was not discussed.

Pakistan “has to demonstrate further that investigation and prosecution of proscribed terrorists and terror groups are being properly pursued,” FATF chief Pleyer stated categorically.

Imran Khan, the prime minister of Pakistan, and Erdogan have been discovered to be in agreement when it comes to opposing France’s secularism and collaborating on the advancement of the Taliban in Afghanistan. Turkey replaced China as Pakistan’s “friend” in a number of international fora.

The G-7 (the group of the seven most industrialised nations) suggested the FATF be established in 1989 to monitor money laundering and take action to stop the practise, which frequently leads to unrest in one region or another of the world. The FATF accepted Turkey as a member in 1991.

The main method of funding terrorism is thought to be money laundering. Pakistan has struggled to leave the grey list since June 2018. The FATF has discovered that it is struggling to stop money laundering that funnels funding to terrorist organisations in Pakistan and Afghanistan.

It is estimated that Pakistan loses $30 million annually by remaining on the grey list. It has trouble obtaining financial assistance from other nations and international financial organisations, such as the International Monetary Fund (IMF). Pakistan is at significant risk of experiencing an economic collapse because it is so dependent on international help.

To avoid being placed on the FATF’s blacklist for funding terrorism and money laundering, at least three countries must approve the measure. There are 39 members. If Turkey’s state stance on supporting terrorism does not alter in the upcoming months, it will put Pakistan directly in the line of fire. Turkey is now on the grey list.

Pakistan may be compelled to look for a new saviour at the upcoming FATF session, which is scheduled to take place in March-April 2022, as Turkey is currently under fire for its recent track record on money laundering and financing terrorism.

Turkey has historically taken a strong stance against the money laundering method of financing terrorism, which Pakistan also used in 2015. However, Turkey’s domestic politics recently took a severe turn, and Recep Tayyip Erdogan, first as prime minister and then as president, helped the country get closer to Pakistan and speak the same language about Islamist terrorism.

The G-7 (the group of the seven most industrialised nations) proposed that the FATF be established in 1989 to monitor money laundering and take action to curtail the activity, which frequently sparks unrest in various parts of the world. The FATF accepted Turkey as a member in 1991.

Curiously, Pleyer rejected the claim that India was pressuring the Paris-based organisation to keep Pakistan on the grey list. FATF is a technical organisation, and we make decisions by consensus, according to Pleyer. There are 39 jurisdictions involved, not just one, and the choice on which one would receive more scrutiny is made by consensus.

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