India Seeks Help of US and European Countries to Crack Pakistan Terror Fund Trail [ Current News (Concise) - Economics ]
India approached to selects United States and European countries, which are the parts of the Financial Action Task Force (FATF) to crack terror fund trail details from Pakistan. Terror fund trail of Pakistan includes Al Rehmat Trust from Pakistan.
- This trust is a financer of terrorist outfit Jaish-e-Mohammad (JeM). In January 2016 this trust are carried out the attack at the Pathankot airbase in Punjab.
- Al Rehmat Trust founded by JeM chief, Maulana Masood Azhar.
- It uses its money for funding and training terrorist units against India.
Financial Action Task Force (FATF):
- Financial Action Task Force is a policy-making body. FATF founded in 1989 during the G7 summit in Paris by the Intergovernmental organisation.
- Its Main purpose is to Money Laundering and terrorism financing.
- FATF Secretariat is housed at the headquarters of the OECD in Paris, France
- The president of FATF is Roger Wilkins. 36 countries membership in FATF.
- Financial Action Task Force objective is to set standards and to promote effective implementation of legal, regulatory and operational measures for battling money laundering, terrorist financing and other related threats to the reliability of the international financial system.
- Published on: August 10, 2016