NEW DELHI: Indian Finance Minister Arun Jaitley has said that India would ask Financial Action Task Forces ( FATF) to place Pakistan on the blacklist for what it said failure to comply with its standards to counter money laundering and other financial crimes.
Jaitly said that India wanted Pakistan downgraded on the FATF list. He said that the Paris-based FATF will meet in mid-May and India would make its request then.
The global money laundering and terror finance watchdog already has already placed 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.
The call came a day after India claimed a diplomatic victory with a UN Security Council committee blacklisting the founder of the banned Jaish-e-Mohammed (JeM) group, Masood Azhar.
Pakistan’s ally China had repeatedly opposed efforts at the United Nations by Western powers to directly sanction Azhar, even though the group had already been blacklisted by the UN Security Council in 2001.
India’s foreign ministry welcomed the sanctioning of Azhar as “a step in the right direction to demonstrate the international community’s resolve to fight against terrorism and its enablers”.
“The core issue is that he has been declared an international terrorist,” Jaitley said, referring to Azhar.
In February, the Paris-based FATF had claimed that Pakistan “does not demonstrate a proper understanding” of terrorism financing risks posed by militant groups, including the JeM.