FATF Intensifies Focus on Combating Terror Financing After Pahalgam Attack

The Financial Action Task Force (FATF) has condemned the brutal terrorist attack in Pahalgam, Kashmir, and emphasized the need for global vigilance in combatting terror financing. The attack, which took 26 lives, underscores the persistent threat of terrorism and the necessity of financial measures to prevent it.

India has reiterated its accusations against Pakistan for harboring and supporting terrorist activities, pointing to the country's past and ongoing relationship with the FATF's 'grey list' as evidence of its non-compliance with anti-money laundering (AML) and combatting the financing of terrorism (CFT) standards. A dossier documenting Pakistan's failures is being prepared for the upcoming FATF meetings.

The FATF continues to work with over 200 jurisdictions to enhance their CFT strategies, utilizing financial intelligence to trace and obstruct terror funding. Recent advancements, such as analyzing social media and virtual assets, are part of its comprehensive approach to addressing emerging threats worldwide.

(With inputs from agencies.)