New Delhi, June 30: India on Saturday welcomed the decision of the Financial Action Task Force (FATF) to place Pakistan in its Compliance Document or grey list for International Cooperation Review Group (ICRG) monitoring saying that the country continues to nurture designated terrorists and entities such as Lashkar-e-Taiba (LeT) and Jaish-e-Mohammed (JeM). Also Read - 'New Map an Exercise of Political Absurdity': India Blasts at Pakistan PM Over Provocative Move

Pakistan was on Friday placed in the Paris-based FATF’s “grey list” for a number of reasons including being deficient is in preventing “cross-border smuggling of cash”. “India welcomes the decision of the Financial Action Task Force to place Pakistan in its Compliance Document (Grey list) for ICRG monitoring,” MEA in a statement said. Also Read - Pakistan’s Dawn News Channel Hacked; Indian Tricolour, Independence Day Messages Surface on Screen

MEA said that Pakistan had earlier given high-level political commitment to address global concerns on the implementation of FATF standards for countering terror financing and anti-money laundering, especially in respect of the United Nations designated and internationally proscribed terror entities and individuals. Also Read - China Proposes 4-Point Action Plan to Pakistan, Afghanistan, Nepal; Defends WHO Over COVID-19 Crisis

However, MEA said, the “freedom and impunity with which the designated terrorists like Hafiz Saeed and entities continue to operate in Pakistan is not in keeping with such commitments.” India also hoped that the FATF action plan will be complied with in a time-bound measure to address global concerns related to terrorism emanating from any territory under its control.

Pakistan on Friday became the ninth country to be placed on the FATF’s “grey list”, the other eight being Ethiopia, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen. According to the Express Tribune, these nine countries have been labeled by the FATF as “jurisdictions (states) with strategic deficiencies” that can harm the international financial system if they do not take immediate steps to stop financing of terrorists and money laundering activities.

The only major area where Pakistan has admitted to being deficient is in preventing cross-border smuggling of cash. Soon after its placement in the grey list, Pakistan told the FATF that it will implement its action plan to accomplish the objectives of properly identifying, assessing and supervising the removal of terrorism financing risks, ANI reported.

With agency inputs