Pakistan briefs FATF delegation on measures taken to stop money laundering
The second round of talks between Pakistan and FATF delegation were held in Islamabad on Tuesday.
ISLAMABAD (Dunya News) – The second round of talks between Pakistan and delegation of the Asia-Pacific Group (APG), a regional affiliate of the Financial Action Task Force (FATF), were held in Islamabad on Tuesday.
The delegation is currently visiting Pakistan to evaluate the measures taken to curb terror financing and money laundering in the country. The visiting delegation presented its report on the state of money laundering and terror financing in Pakistan.
According to sources, officials from finance ministry put up a stringent defence on FATF’s Asia Pacific report. Nine out of 40 recommendations presented by FATF were reviewed during today’s meeting.
Sources further said that finance ministry officials also briefed the visiting delegation on anti-money laundering laws and regulations.
The Pakistani officials briefed the FATF team on actions against fake bank accounts and transactions through illegal channels. Pakistan assured the FATF delegation of halting registration of suspicious firms to curb money laundering practices.
Meanwhile, the Securities Exchange Commission of Pakistan (SECP) has briefed the FATF team on regulatory measures taken to stop money laundering in nonprofit organizations and financial institutions/organizations.
Sources said that two departments, SECP and Financial Monterey Unit (FMU), on Tuesday also briefed the assessment team about suspicious transaction reports and subsequent actions taken by the FMU in this regard.
