South Asia News

Pakistan to upgrade banned militant groups as 'high risk'

The Pakistan government has decided to upgrade a group of banned militant outfits, including the Jaish-e-Mohammad (JeM), to the "high risk" category and start monitoring and re-examining their activities to comply with requirements of the Financial Action Task Force (FATF).
Mar 11, 2019
ISLAMABAD: The Pakistan government has decided to upgrade a group of banned militant outfits, including the Jaish-e-Mohammad (JeM), to the "high risk" category and start monitoring and re-examining their activities to comply with requirements of the Financial Action Task Force (FATF).
 
The Paris-based global watchdog against financial crimes had expressed dissatisfaction over considering these entities as low to medium risk and said Pakistan did "not demonstrate a proper understanding of the terror financing risks posed by the JeM, Islamic State (IS), Al Qaeda, Jamaat-ud-Dawa (JuD), Falah-i-Insaniat Foundation (FIF), Lashkar-e-Taiba (LeT), Haqqani Network, and persons affiliated with the Taliban", Dawn news reported.
 
All these groups have now been described as "high-risk" entities and would be subject to greater scrutiny by all agencies and institutions of the country, beginning with their registration to operations and their fund collection, to bank accounts and suspicious transactions, information sharing and so on.
 
The institutions which will monitor the functioning of the terror groups include the Federal Investigation Agency, Securities and Exchange Commission of Pakistan, State Bank of Pakistan, National Counter-Terrorism Authority and Financial Monitoring Unit.

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