Anti-money laundering watchdog gives Pakistan until February to act against terror financing

The Paris-based Financial Action Task Force already has Pakistan on its ‘grey list’ of countries with inadequate controls over curbing money laundering and terrorism financing. (Reuters)
Updated 18 October 2019

Anti-money laundering watchdog gives Pakistan until February to act against terror financing

  • ‘The FATF strongly urges Pakistan to swiftly complete its full action plan by February 2020’

PARIS: Pakistan has until February to improve its counter-terror financing operations in line with an internationally agreed action plan, or face action against it, a global watchdog said on Friday.
The Paris-based Financial Action Task Force, which tackles money laundering, said it was concerned that Pakistan had failed to complete the action plan first by a January deadline, then a May deadline and now October.
“The FATF strongly urges Pakistan to swiftly complete its full action plan by February 2020,” it said in a statement.
“Otherwise, should significant and sustainable progress not be made across the full range of its action plan by the next Plenary, the FATF will take action.”
The FATF already has Pakistan on its “grey list” of countries with inadequate controls over curbing money laundering and terrorism financing. But India wants Pakistan blacklisted, which would likely result in sanctions.
“Pakistan needs to do more and it needs to do it faster,” FATF president Xiangmin Liu told reporters in Paris.


US Navy carrier transits Strait of Hormuz after deployment

Updated 20 November 2019

US Navy carrier transits Strait of Hormuz after deployment

DUBAI: A US aircraft carrier ordered by the White House to rapidly deploy to the Mideast over a perceived threat from Iran has transited the Strait of Hormuz for the first time since its deployment.
The US Navy says the USS Abraham Lincoln transited the strait on Tuesday, making its way to the Arabian Gulf. The carrier left Norfolk, VA, in April and was diverted to the Middle East in May, but it had remained in the Arabian Sea, avoiding passage through the strait that borders Iran.
American aircraft carriers have for decades sailed through the international oil shipping route in what the US describes as “defensive” operations aimed at keeping the strait open.
The Trump administration deployed the Lincoln to the Arabian Gulf amid a spike in tensions with Iran.