Cracking down on terror financing
Dawn, July 31, 2019 It has emerged that the FBR has established a Financial Action Task Force cell to ensure that terrorism-related financial flows through currency smuggling are disrupted and regulations to prevent the practice correctly applied. The cell will serve as the focal point for activities related to customs’ compliance with the FATF regulations, on which depends Pakistan’s removal from the FATF grey list. The development follows on the heels of the July 17 arrest of Jamaatud Dawa chief, Hafiz Saeed, in connection with a terror-financing case. He was one of 13 top JuD leaders booked some days earlier by CTD Punjab in several money-laundering and terror-financing cases. According to the law-enforcement agency, JuD was receiving huge amounts of funds from around 10 non-profits and trusts that were banned in April. Militancy in Pakistan has long exploited public sentiments to ensure a steady stream of financing, which extremist groups then put to use within the c...