FATF urged to render India in grey-list

By Ali Imran

ISLAMABAD: Chairman Senate Standing Committee on Interior Rehman Malik has written on Monday to Financial Action Task Force (FATF) president calling on him to render India in the grey-list of global trade.
Basing his call on the argument that at least 44 Indian banks were found to be laundering money across the world according to reports published by the US financial institution, Malik said it was disappointing that the FATF was still evasive in taking stern action against India.
The American banks submitted their reports to the Financial Crimes Enforcement Network (FCEN) wherein they flagged at least 44 banks based in India to be involved in money laundering.
Malik noted that in spite of FCEN now apprised of the unpleasant development on 44 Indian banks, the FATF has as yet not taken any step against the country while Pakistan was marked grey-listed based on one suspicious transaction alone.
Malik said India is fast becoming the epicentre of ISIS, supported and overseen by its intelligence agency RAW, and noted that it is obligatory on the FATF to act against the country that is financing terror-activities.
He supported his argument taking into account United Nations report which cited fast-growing network of the ISIS network within India with its states Kerala and Karnataka being, reportedly, home to a number of terrorists.