Published On: Thu, Sep 7th, 2017

‘Pakistan among 50 worst terror financing countries’

Islamabad: Pakistan is among the 50 worst countries in terms of money laundering and terror financing, according to a study conducted by a Swiss group.

We should impose restrictions on activities of elements like LeT and JeM

The study by Basel Institute on Governance ranked Pakistan at the 46th position in the list of 146 countries with greater chances of money laundering and terror financing, the News International reported on Thursday.

The group, which works with the public and private sector to counter corruption, released its annual Anti Money Laundering (AML) index 2017 in the third week of August and some of its findings were reported by international media.

The Basel AML Index measured the risk of money laundering and terrorist financing of countries based on publicly available sources, the report said.

The Basel AML Index 2017 gave Pakistan a score of 6.64. The other “worst” countries in the list were Iran (8.6), Afghanistan (8.38), Guinea-Bissau (8.35), Tajikistan (8.28), Laos (8.28), Mozambique (8.08), Mali (7.97), Uganda (7.95), Cambodia (7.94).

The best performance in effective monitoring of banking and all financial transactions, according to this study, was of Finland with a score of 3.04. Thus, Finland was at the bottom of the list and ranked at position 146. Other countries with best controls and monitoring of financial transactions after Finland were Lithuania (3.67), Estonia (3.83), Bulgaria (3.87), New Zealand (3.91), Slovenia (4.02) and Denmark (3.05).

On the other hand, Pakistan on Wednesday admitted for the first time that internationally proscribed terrorist outfits, such as Lashkar-e-Taiba and Jaish-e-Muhammed, were operating from within its territory, with foreign minister Khawaja Muhammad Asif calling for tougher action against these groups.

“We should impose restrictions on activities of elements like LeT and JeM so that we can show the global community that we’ve put our house in order,” Asif told Geo News while responding to a BRICS declaration that named several terrorist groups, including the two, as threats to regional security.

Asif said Pakistan could no longer afford to “test” its friends on the issue of terrorism.

“Friends like China should not be tested every time, particularly in the changed (global) scenario,” the minister added.

 

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