FATF strict conditions, Pakistan active to get out of grey list
State Bank posed a fine of 40 million on banks if they fail to submit the complete record.
ISLAMABAD (Dunya News) – Telecommunication sector of Pakistan made new rules to get on The Financial Action Task Force (FATF) terms. Mobile phones and Pakistan Post supplies will be recorded said on Saturday.
According to Ministry of Finance, Asia/Pacific Group on Money Laundering from FATF will visit Pakistan on March 25. Delegation will be informed about new rules to record the mobile phone and Pakistan Post supplies.
Government has decided that State Bank of Pakistan will form the record of cash transfers from telecommunication sector. Pakistan Post supplies record will be provided to State Bank of Pakistan.
According to sources, new rules are being made to keep the record of prize bonds. Rules will tell us the track of prize bond’s ownership and the way they have been bought, informed Government.
State Bank posed a fine of 40 million on banks if they fail to submit the complete record of supplies.
