ISLAMABAD – Pakistan has prepared a comprehensive report to be submitted toFinancial Action Task Force.
The report electronically sent to the FATF indicates the implementationstatus of plans for several agencies of the government based on itssuggestions.
According to the report, a total of 4,643 dubious transactions linked tomoney laundering and terror financing were unearthed and blocked since2015, Pakistan Today has reported.
This included 3,677 suspicious transaction reports (STRs) and 966 financialintelligence reports.
Also, a total of 1,617 transactions were caught last year, which included975 STRs and 210 were financial intelligence reports.
Two key routes i.e. Pak-Iran and Pak-Afghan borders respectively wereunearthed for facilitating money laundering and terror financing.
For combatting this challenge, security and checking systems at Pak-Afghanborder had been beefed up with improved technology and vigilance.
Also, security had been strengthened at the Pak-Iran border to combat thismenace.
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Moreover, the report observed the long coastal belt also constituted partof smuggling and security was being beefed up via law enforcement agencies(LEAs), which includes coast and maritime guards.
The report highlighted the Afghan Transit Trade route was also from whereunregistered financial flows were originating from.
It added that all these mediums were being abused by foreign agencies tofacilitate terror-linked activities.
The report explained that tools being utilized for the financialtransaction for terrorism included donations, cash smuggling, drugs,non-governmental organizations, foreign agencies and natural resources.
The FIA identified 1,295 illegal transactions, FBR 1,185 and SBP 1,049since 2015 respectively.
