Priyanka Tiwari
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Suspense Crime, Digital Desk : India is significantly ramping up its diplomatic efforts, with a particular focus on gaining support from the United States, to advocate for Pakistan's return to the "grey list" of the Financial Action Task Force (FATF). The FATF is an influential global body dedicated to combating money laundering and the financing of terrorism. This renewed push from New Delhi comes as the FATF prepares for a critical plenary session scheduled for June.
The crux of India's argument is that Pakistan, despite its removal from the grey list in October 2022, has allegedly not sustained its commitments and is showing signs of "backsliding" in its measures against terror financing and money laundering. Indian officials are reportedly sharing intelligence and evidence with key FATF member nations, including the US, to substantiate these concerns.
Pakistan had previously spent four years on the FATF's grey list due to identified weaknesses in its anti-money laundering (AML) and countering the financing of terrorism (CFT) frameworks. Its removal was a considerable diplomatic achievement for Islamabad, easing its access to international financial systems and investment.
However, India contends that Pakistan has not genuinely dismantled the infrastructure supporting terrorist organizations, especially those that have targeted India, such as Lashkar-e-Taiba (LeT) and Jaish-e-Mohammed (JeM). New Delhi's position is that any improvements shown by Pakistan were either superficial or temporary, and that the country continues to present a risk regarding the financing of terrorist activities.
Engaging the United States is a vital component of India's strategy. The US wields significant influence within the 39-member FATF, and its stance is often crucial in decisions about country listings. India is likely framing its case by emphasizing how Pakistan's alleged shortcomings undermine regional security and the broader international fight against terrorism.
Being placed back on the grey list would represent a substantial setback for Pakistan. It would mean increased international monitoring of its financial system, potentially making it more difficult to secure foreign aid, loans, and international investment. It could also lead to higher costs for international transactions and create complications for Pakistani banks and businesses operating globally.
The FATF's upcoming plenary in June will be the forum where member states assess the progress of countries under review and decide on any new listings or de-listings. India's diplomatic offensive aims to build a consensus among members that Pakistan's recent actions, or lack thereof, justify its return to the grey list.
This development highlights the persistent and deep-seated tensions between India and Pakistan, with terror financing remaining a major point of contention. India's efforts underscore its resolve to maintain international pressure on Pakistan to address these critical concerns in a comprehensive and lasting manner. The outcome of the June FATF meeting will be keenly observed by both nations and the global community.
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