The Supreme Court said on Wednesday that money laundering is a "heinous" crime which not only affects the social and economic fabric of a nation but also tends to promote other serious offences like terrorism and drug trafficking.
According to the new proposals, resident promoters or a foreign promoter from a FATF jurisdiction can set up a market infrastructure institution.
The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
The list in 2018 contained about 7,600 names. It has been reduced to under 3,800 in the past 18 months, according to Castellum.AI, a New York-based regulatory technology company. About 1,800 of the names have been removed since the beginning of March, according to data collected by Castellum.
He also said that terrorists are constantly finding new ways to carry out violence, radicalise youth and raise financial resources and the darknet is being used by terrorists to spread radical content and conceal their identities.
Pakistan is on the verge of strong action by FATF, given its inadequate performance, whereby it managed to pass in only six of 27 items, an official privy to the development said.
MEA spokesperson Anurag Srivastava said Pakistani forces have continued to engage in unprovoked ceasefire violations, often from civilian areas, to support infiltration of terrorists across the LoC.
In the audio clip, he is heard directing the attack on Chabad House during Mumbai 26/11 terror attacks.
A dossier will be given to the FATF, an international terror financing watchdog.
Dawood Ibrahim is wanted in India to face the law of the land for carrying out serial blasts in Mumbai in 1993 in which scores of people were killed and injured.
Market observers also said the approvals depended a lot on the funds themselves, and the extent to which they followed the new norms introduced last year.
The sentencing of Saeed came just four days ahead of a meeting of global anti-terror watchdog Financial Action Task Force in Paris to review Pakistan's compliance of an action plan prescribed by it to contain terror groups in the country.
"There are floods. Large number of leaders try to portray militant groups in a good way. A number of militant groups have sent their elements to Balochistan and Sindh for helping people affected by floods," Lt Gen Singh said.
It is learnt that China placed a hold on the proposal by India and the US to designate Mahmood as a global terrorist under the 1267 Al Qaeda Sanctions Committee of the UN Security Council.
US Secretary of State Antony Blinken, in the 2020 Country Reports on Terrorism issued on Thursday, said that regionally, terrorist groups continued to operate from Pakistan.
The Anti-Terrorism Court (ATC) Gujranwala issued the warrant during a hearing in a terror financing case instituted by the Counter Terrorism Department (CTD) of Punjab police against some members of the JeM.
Munir was among those in Pakistan who oversaw the 2019 Pulwama terror attack, according to Tilak Devasher, a member of the National Security Advisory Board (NSAB) and who retired as Special Secretary, Cabinet Secretariat.
Hafiz Talha Saeed is a senior leader of the LeT and is the head of the cleric wing of the terrorist organisation.
India has evidence that social media platforms are being used to raise terror funds, NIA director general Dinkar Gupta said on Thursday, underlining that the issue will be deliberated during a two-day international ministerial conference on countering terror financing.
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
Indian Army has taken the initiative to induct women in rank and file, and the first batch of 100 women soldiers is undergoing training at Corps of Military Police Centre and School, he said.
Sources stated that a discussion is likely on the changed geopolitical situation in wake of the Taliban taking over Afghanistan and the drawdown of the US forces from the region.
In the document, the global body expressed concerns over the increasing use of Internet and other information and communications technologies, including social media platforms, for terrorist purposes.
India handed over a dossier to Pakistan to take action against the JeM, as pressure mounted on Islamabad to take action against individual and organisation listed by the UN Security Council as terrorists.
The US State Department, in its Congressional mandated annual Country Reports on Terrorism for the year 2018, on Friday said even though the Pakistani government voiced support for political reconciliation between the Afghan government and the Taliban, it did not restrict the terror group and the Haqqani Network from operating in Pakistan-based safe havens and threatening the US and Afghan forces in Afghanistan.
External Affairs Minister S Jaishankar said the passage of the amendment will strengthen India's national security and its global position.
Banks have raised concerns over the new international trade settlement in rupee, fearing that facilitation of such a mechanism could result in them facing the ire of economic sanctions by the West, people aware of the matter said. Large banks with overseas operations have sought clarity and assurance from the Reserve Bank of India (RBI) that they will not be targeted with sanctions for facilitating rupee trade with a sanction-hit country such as Russia. The present payment mechanism is a shift from earlier such arrangements, like the one with sanction-hit Iran, which involved banks facilitating settlement of international trade that did not have business in the sanctioned nation.
'If the US intention was to use the FATF platform to isolate Pakistan and impose sanctions against it, that is not going to work when influential countries such as Turkey, Iran, Saudi Arabia, China and Russia will not lend support to the US campaign,' says Ambassador M K Bhadrakumar.
He also said that when it comes to proscribing some terrorists, the United Nations Security Council (UNSC) has 'regrettably' been unable to act in some cases because of 'political considerations'.
This year saw no improvement in bilateral ties as India accused Pakistan of cross-border infiltration and re-activation of terror-launching pads near the LoC.
The court sentenced Saeed to five-and-a-half years and imposed a fine of Rs 15,000 in each case. The sentences of both cases will run concurrently.
Former India opener and BJP MP Gautam Gambhir on Friday said that there should not be any relation with Pakistan till cross-border terrorism gets over.
Being part of category-I implies lower compliance burden, simplified know-your-customer norms and documentation requirements, and fewer investment restrictions.
Sun Pharma was the top loser in the Sensex pack, shedding 2.37 per cent, followed by HCL Tech, Reliance Industries, IndusInd Bank and L&T.
In a clear reference to Pakistan, he also sought diplomatic isolation and blacklisting by anti-terror watchdog FATF of countries sponsoring terrorism, asserting that there is a need to take the bull by its horns and strike at the root cause of terror.
A world anti-money laundering body has deleted all trace of an alert it issued last week warning that financial institutions had not done enough to police suspicious financial activity by officials at FIFA.
In a major boost to measures being taken by India against money laundering and terror financing activities, the Financial Action Task Force (FATF) on Wednesday said the country has substantially addressed the deficiencies in its regulatory framework and has become largely compliant with global standards in this regard.
India along with major world economies is participating in the first-ever global meeting being held here to discuss and evolve mechanisms to combat the clandestine and largely undetected terrorist financing network of the Islamic State terror group.
A statement issued by the Interior Ministry also said the crackdown on Jaish 'has been taken in line with the decision of the NSC meeting'.
The conviction levels are still low.
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