Nacta, UK agree on concrete steps to combat terrorism financing

ISLAMABAD: The National Counter Terrorism Authority (Nacta) and British High Commission on Friday agreed to take concrete steps to stem financial aid to terrorism activities, ARY News reported.

The understanding was reached during a seminar organised by the two entities in Islamabad. Experts from both the sides discussed the national and international laws against terrorism financing.

The British High Commission assured the Nacta of full cooperation to stop financial assistance being given to terrorists.

Read: FATF acknowledges Pakistan’s anti-money laundering steps, urges further quick steps

Recently, the Paris-based Financial Action Task Force (FATF) praised Pakistan progress for combating money laundering and terrorism financing and termed the steps taken by the country satisfactory.

The FATF had placed Pakistan on a money laundering “grey list” early in 2018 but given it time to take action against further downgrade.

“Since June 2018, when Pakistan made a high-level political commitment to work with the FATF to strengthen its anti money laundering/combating financing of terrorism regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan has taken steps towards improving the regime, including by operationalising the integrated database for its currency declaration regime,” the body said in a statement.

The statement, however, urged for more steps to the work that remains to be done.

Pakistan has taken substantial steps to curb money laundering and terrorism financing. The Pakistani agencies traced around 8500 suspicious transactions and imposed ban on the militant groups involved in extremist activities.