NEW DELHI, June 22 -- A new report by the global financial crimes watchdog has cited India's seizure of equipment with military use bound for Pakistan in 2020 as evidence of widespread failures in preventing weapons proliferation financing, a problem that poses significant threats to world security and the integrity of the international financial system. The Financial Action Task Force (FATF) report, published late on Friday, found that 84% of assessed countries demonstrated inadequate controls despite what FATF described as the "grave threat" posed by such activities. The report featured a case study detailing how Indian customs authorities in 2020 intercepted dual-use items that were mis-declared as medical equipment but were actually destined for Pakistan's ballistic missile programme. "Indian custom authorities seized an Asian-flagged ship bound for Pakistan. During an investigation, Indian authorities confirmed that documents mis-declared the shipment's dual-use items," the FATF report titled Complex Proliferation Financing and Sanctions Evasion Schemes stated. The items were listed as autoclaves, which are "used for sensitive high energy materials and for insulation and chemical coating of missile motors." A senior Indian government official described the study as "the most comprehensive and updated survey of risks related to proliferation financing," noting that it identifies Pakistan alongside North Korea and Iran as countries where proliferation financing risks "are inherent." The FATF categorised the incident as "non-declaration of dual use goods under the prescribed export laws of the exporting country."...