HomeInformationFATF should take action against India for money laundering, threatening world peace

FATF should take action against India for money laundering, threatening world peace

Islamabad: Speakers at a webinar on “Anti-Money Laundering and Global Security” have called upon the Financial Action Task Force to sanction India for being blatantly involved in money laundering and jeopardizing world peace.

Webinar was organised by the Centre for Aerospace and Security Studies.

An international panel of experts from Pakistan and the United Kingdom said also called for more international cooperation and awareness creation about its negative fallouts.

Prof. Dr Nicholas Ryder, Professor of Financial Crime at UWE, Bristol, said that in order to make state as well as corporate compliance more robust, countries like the US and the EU need to coordinate and cooperate with countries from the South from where taxpayers’ money is illegally funneled out.

Mr Shakeel Ahmad Ramay from the Sustainable Development Policy Institute stated that politics needed to be taken out of the fight against money laundering. He stressed the need to recognize the limits of economic sanctions, and how the general populace/small businesses of a targeted country are adversely affected due to Western-imposed sanctions.

Ms Syeda Mehar Zehra heading the AML/Sanctions Compliance Unit at Habib Bank Limited highlighted that Pakistan had adequate rules, regulations, and laws in place when it comes to dealing with money laundering. She called for more awareness among general public through seminars and information campaigns on this issue.

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