FATF team puts forward new conditions before Pakistan government
*ISLAMABAD - The FATF visiting delegation in Pakistan has put forward new conditions over money control in Pakistan.*
*FATF has asked the Pakistani government to ensure that all dollar and euro transactions above $3,000 are documented with details of the sender.*
The range given by the FATF team is between $3,000 and $15,000. Transactions above that are already monitored and the ones below are usually routine transactions.
The team wants the government to maintain records of all transactions, even ones not done through banks.
The FATF team arrived in Pakistan on Monday for a two-week visit to hold consultation meetings with officials of the finance ministry, Securities and Exchange Commission of Pakistan, State Bank of Pakistan and other key departments.
During their stay, they will assess Pakistan’s progress on anti-money laundering and countering financing of terrorism regulations.