The Senate on Monday, the Private Members Day, passed Anti-Money Laundering Bill 2010 as the government bill with consensus as those who had opposed the Bill and proposed amendments were not present in the House.The House resumed proceedings after half an hour suspension when a member pointed out the quorum, and the Chair had to suspend proceedings for some time for not being in order.The House passed the 46 clauses bill with consensus, dropping amendments by Leader of the Opposition, Waseem Sajjad in clauses 2, 3, 6, 7, 12, 26 and 42, due to his absence from the House.The Anti-Money Laundering Bill 2010 aims at prevention of money laundering as a necessary review was required and change in the law to bring it in line with international standards after Financial Action Task Force and Asian Pacific Group had raised serious reservations on certain provisions of AML Bill 2007. These amendments in the Bill address and broadly provide for; AML laws applicability in the area of countering financing of terrorism; expansion in the list of predicate offenses; and modifying the definition of money laundering, in line with the internationally accepted standards.
