ISLAMABAD – India makes desperate effort in Financial Action Task Forceagainst Pakistan, sources have revealed.
Two Indian government officials dealing with the issue said new informationhad been provided to the FATF relating to Pakistan after the car bombinglast week in the Pulwama district of occupied Kashmir in which 40paramilitary police were killed.
The banned Jaish-e-Mohammad had reportedly claimed responsibility for theattack.
A third Indian official said details relating to the militant group’soperations were provided to the FATF. “It was a post-Pulwama brief,” saidone of the officials when asked about the information provided to thewatchdog.
While there are no direct legal implications from being on the list, itbrings extra scrutiny from regulators and financial institutions that canchill trade and investment and increase transaction costs, experts say.
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India has also cancelled Most Favoured Nation trade privileges for Pakistanand imposed 200 per cent duty on goods coming from Pakistan, furthersqueezing the barely $2 billion bilateral trade.
The FATF said it would release the results of its review after a meeting ofthe group’s decision-making body. “We will publish the outcomes from themeeting, including our updated statements identifying high-risk and othermonitored jurisdictions, at the end of the meeting, on Friday afternoon,”Alexandra Wijmenga-Daniel, FATF communications management advisor, said inan email.
