Envoy P. Harish says attacks on global anti-terror financing watchdog reflect “fear of scrutiny”, not genuine concerns….reports Asian Lite News Desk
India has strongly defended the Financial Action Task Force (FATF) against criticism from Pakistan, asserting that attempts to undermine the global anti-terror financing watchdog stem from a “fear of scrutiny” rather than genuine concerns about its functioning.
Addressing an event on “Joining Forces to Counter Terrorism Financing in the Context of Evolving Threats and Emerging Technologies” during the UN Counter-Terrorism Week, India’s Permanent Representative to the UN, P. Harish, described FATF as “an indispensable pillar of the global counterterrorism financing and anti-money laundering architecture.”
“Attempts to question its credibility often reflect fear of scrutiny rather than genuine process-related concerns,” Harish said.
Without naming Pakistan directly, he noted that “our history shows that critical terrorist financing risks have not emerged anonymously. They have been sponsored, including by some state actors.”
His remarks came against the backdrop of Pakistan’s repeated allegations that FATF had been politically weaponised during the period it remained on the organisation’s “grey list” of countries under increased monitoring.
Highlighting India’s long-standing experience with terrorism, Harish said the country has faced cross-border terrorism for decades and warned that emerging digital technologies are making terror financing networks increasingly sophisticated.
“For decades now, my country, India, has confronted cross-border terrorism, and new digital technologies are only making the sources, methods and channels used for the flow of assets more complex,” he said.
Defending FATF’s functioning, Harish stressed that the body’s assessments are technical, evidence-based and founded on internationally accepted standards.
“Countries facing adverse assessments should address the deficiencies identified, strengthen domestic enforcement, improve financial transparency, and demonstrate irreversible action against terror financing networks,” he said.
He added that the appropriate response to FATF scrutiny was “credible compliance” rather than “politicised activism in UN forums.”
“States that allow their territory, institutions or financial channels to be misused for terrorism must stop exporting instability and start fulfilling their obligations towards international peace and security,” Harish said.
The 40-member FATF leads global efforts to combat terrorist financing and money laundering linked to crimes such as drug trafficking, illegal arms trade and cyber fraud. It evaluates countries’ compliance with international standards and works to prevent financial systems from being exploited for illicit activities.
Harish also highlighted India’s cooperation with FATF in addressing emerging financial technologies that could be exploited by terrorist groups and criminal networks.
He said India has brought virtual asset service providers under its anti-money laundering framework, strengthened verification requirements for centralised exchanges and users, contributed case studies to FATF assessments and shared best practices to curb terror financing risks.
Pakistan, which had criticised FATF while it remained on the grey list, eventually implemented a series of reforms under international pressure to secure its removal from the list. However, it continues to remain under monitoring by FATF and its regional affiliate, the Asia/Pacific Group on Money Laundering (APG).
