OPINION — In the shadow of Mexico City’s historic Palacio de Bellas Artes, global financial watchdogs will convene in February 2026 for the Financial Action Task Force (FATF) Plenary and Working Group Meetings. In conference rooms far removed from South Asia’s violence, Pakistan will once again present itself as a responsible counterterrorism partner, armed with compliance reports, legislative amendments, and assurances of reform. On paper, Pakistan’s financial regulations increasingly resemble those of many developing democracies. On the ground, however, the networks that finance and enable terrorism continue to adapt and operate with troubling resilience. The widening gap…