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Terror financing

Finance ministry demands commission against money laundering, terror financing

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money laundering terror financing

The government has taken a significant step to combat money laundering and terrorist financing by proposing the establishment of a commission, following recommendations from the International Monetary Fund (IMF), according to sources. This commission is intended to function as a regulatory authority, aiming to prevent both internal and external financing associated with money laundering and … Read more

Special cell established to investigate terror financing cases

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Special cell

ISLAMABAD: A special investigative cell in the Anti-Terrorism Department of Islamabad Capital Police has been set up to investigate cases related to financing terrorism and extremism. On the special directions of Federal Interior Minister Sarfraz Bugti, Islamabad Capital City Police Officer (ICCPO) Dr Akbar Naseer Khan has taken the initiative to set up this special … Read more

Punjab Govt decides to launch crackdown against cyber-terrorism

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Punjab
  • Mapping of miscreants started through cyber-patrolling.
  • Govt taken action on 184 threat alerts of banned outfits.
  • PTA blocked 84,447 sites and pages in Punjab province.

LAHORE:  The Punjab government has decided to take strict action against cyber terrorism and terror financing while the security agencies have submitted a report to the Caretaker Chief Minister of Punjab.

According to the details, in view of the incidents of terrorism in Balochistan and other provinces, the Punjab government has decided to take strict action against cyberterrorism and terror financing.

Police say that by increasing cyber patrolling, mapping of miscreants has been started and action has been taken on 184 threat alerts of banned organizations this year.

Cyber-terrorism and financing security agencies have submitted a report to the Caretaker Chief Minister Mohsin Naqvi, in which it is stated that 136,500 pages, of sites have been reported to Pakistan Telecommunication Authority (PTA) out of which 84,447 sites and pages have been blocked.

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US probing HBL for alleged terror financing

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US probing HBL for alleged terror financing
  • Habib Bank Limited (HBL) has been under investigation for allegedly providing financial support to the terrorist organisations.
  • The bank said the allegations in the complaints are meritless and it is contesting them fully and vigorously.
  • HBL Bank and HBL’s New York branch were previously implicated in money laundering and terrorist financing back in 2017.

KARACHI: Habib Bank Limited (HBL) has been under probe again in the United States for allegedly providing financial support to the terrorist organisations.

As per the Justice Against Sponsors of Terrorism Act (JASTA), HBL Bank has repeated misconduct and revealed a pattern of funding terrorism at various occasions in the last decade as of 2006.

Plaintiffs in these consolidated cases are 370 individuals who were injured or whose family members were injured or killed in terrorist attacks, who brought this action against HBL under the Anti-Terrorism Act (ATA), as amended by the JASTA.

In its clarification, the bank said the allegations in the complaints are meritless, and HBL is contesting them fully and vigorously.

The public record is clear that HBL is unwavering in its commitment to combating the financing of terrorism, which has been well documented — its extensive global implementation of anti-money laundering compliance controls has been highly successful and lauded by regulators around the world, it added.

HBL’s motion was successful in two respects. The court dismissed the primary liability claim and narrowed the case substantially.

The court also stated secondary liabilities will be evaluated following the due legal proceedings and no judgement was passed by the court on this matter, the statement noted.

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France’s duplicity exposed for financing ISIS but blaming Pakistan at FATF

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France’s duplicity exposed for financing ISIS but blaming Pakistan at FATF

ISLAMABAD: The duplicity of France exposed with the disclosure of official documents revealing that French cement giant Lafarge has been financing ISIS in Syria and the French government was in the know of this pro-terror activity. The documents obtained by the Turkish Anadolu Agency, revealed the cement firm had constantly informed the French intelligence of … Read more

ADB, ACAMS join hands to detect terror financing

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ADB, ACAMS join hands to detect terror financing

The Asian Development Bank (ADB) and the Association of Certified Anti-Money Laundering Specialists (ACAMS) are partnering in the pilot rollout of an internationally accredited online training program to boost anti-money laundering and know-your-client (AML/KYC) capacities of ADB’s Trade Finance Program (TFP) partner banks. “Enhancing the banking system’s ability to detect money laundering and terrorist financing … Read more

SECP and UN conducted workshops on terror financing

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secp

The Securities and Exchange Commission of Pakistan (SECP), in collaboration with United Nations Office on Drugs and Crime (UNODC), conducted series of workshops for SECP regulated financial institutions to enhance understanding of the risk-based approach to prevent money laundering and terror financing. Over 500 professionals from Securities and Commodities markets, Insurance/Takaful companies, Non-Banking Finance Companies … Read more

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