FATF Condemns Pahalgam Attack, to Release Terror Financing Report Soon

The Financial Action Task Force (FATF) will soon release a comprehensive analysis on terror financing, compiling cases submitted by jurisdictions across its global network, it said in a statement on Monday.

- MONIKA YADAV

The report will be the latest in FATF's efforts to strengthen global measures against terror financing. The intergovernmental body sets global standards to prevent money laundering, terror financing, and the financing of weapons of mass destruction.

"The FATF has been working for 10 years to help countries stay ahead of terror financing risk, including relating to abuse of social media, crowd funding, and virtual assets. To improve this picture, the FATF will soon release a comprehensive analysis of terror financing, compiling cases provided by our global network. We will also host a webinar to help public and private sectors understand the risks and stay alert to emerging threats," FATF said.

In a statement issued on its website, FATF reaffirmed its support to over 200 jurisdictions to build and enhance their counter-financing of terrorism (CFT) frameworks.

It said the upcoming report will draw on case studies provided by member jurisdictions and focus on identifying gaps in existing systems.