Pakistan News Service

Saturday Dec 14, 2019, Rabi-al-thani 16, 1441 Hijri
Pakistan News Home -> Tribune Corner -> News Details

Pakistan briefed delegation of FATF

27 March, 2019

  Related News  
New civil aviation policy approved by Govt
Nawaz Sharif given bail for six weeks
  More on this View All

The Pakistani authorities on Tuesday briefed a delegation of the Financial Action Task Force (FATF) on laws against money laundering and its regulations in Islamabad.

The FATF delegation is currently in Pakistan to evaluate the measures taken to curb terror financing and money laundering in the country.

The visiting delegation also presented its report on the state of money laundering and terror financing in the country at its review meeting. According to sources in the Finance Ministry, Pakistan put up a stringent defence on FATF’s Asia Pacific report.

Sources said that Pakistan would soon share the record of transactions of unprofitable entities with the FATF. The visiting team was also informed about loans taken by Pakistan from monetary institutions.

The Pakistani officials also briefed the FATF team on actions against fake bank accounts and distrustful transactions through illegal channels. Pakistan assured the FATF delegation of halting registration of suspicious firms to curb money laundering practices.

The FATF had placed Pakistan on a money laundering “grey list” early in 2018 but given it time to take action against further downgrade.

“Since June 2018, when Pakistan made a high-level political commitment to work with the FATF to strengthen its anti money laundering/combating financing of terrorism regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan has taken steps towards improving the regime, including by operationalising the integrated database for its currency declaration regime,” the body said in a statement.

In order to qualify for a de-listing, the FATF has urged that Pakistan should continue to work on implementing its action plan to address its strategic deficiencies.

 What do you think about the story ? Leave your comments!

Heading (Optional)
Your Comments: *

Your Name:*
E-mail (Optional):
City (Optional):
Country (Optional):
Field marked(*) are mandatory.
Note. The PakTribune will publish as many comments as possible but cannot guarantee publication of all. PakTribune keeps its rights reserved to edit the comments for reasons of clarity, brevity and morality. The external links like http:// https:// etc... are not allowed for the time being to be posted inside comments to discourage spammers.

  Speak Out View All
Military Courts
Imran - Qadri long march
Candid Corner
Exclusive by
Lt. Col. Riaz Jafri (Retd)
Pakistan itself a victim of state-sponsored terrorism: Qamar Bajwa
Should You Try Napping During the Workday?
Suggested Sites