Financial Action Task Force (FATF) Condemnation of Pahalgam Terror Attack
The Financial Action Task Force (FATF) serves as the global watchdog for money laundering and terrorist financing, setting international standards to prevent these illegal activities.
Significant Condemnation
- The FATF has issued a statement condemning the Pahalgam terror attack, emphasizing its link to financial support and fund movement between terrorist supporters.
- This condemnation is significant as it marks only the third such statement from the FATF in the past decade, underscoring the seriousness of the attack.
Upcoming FATF Report and State-Sponsorship
- The FATF plans to release a report next month that, for the first time, will include state-sponsorship as a distinct source of terror funding.
- The report aims to provide a comprehensive analysis of terrorist financing, offering insights for both public and private sectors to understand risks and emerging threats.
Global Community's Response
- The international community's awareness of the attack's severity has prompted the FATF's condemnation, ensuring that such acts do not go unaddressed.
FATF’s Toolkits and Assessments
- The FATF has developed a Terror Financing Risk & Context toolkit to aid assessors, helping them identify risks without being misled by countries like Pakistan.
- India's National Risk Assessment already acknowledges state-sponsored terrorism from Pakistan as a significant terror financing risk.
