BEIJING: New developments reported over the Pakistan case in the FinancialAction Task Force.
A Pakistani delegation led by Minister for Economic Affairs Division HammadAzhar briefed the Financial Action Task Force (FATF) in Beijing about theprogress made by Islamabad in the last four and a half months.
READ MORE: Pakistan despatches compliance report on money laundering to FATFlink
The Pakistani delegation is in Beijing for three days talks with the FATF.The delegation comprises representatives of National Counter TerrorismAuthority (Nacta), Foreign Ministry, State Bank of Pakistan (SBP), Customs,Interior Ministry and Financial Monitoring Unit (FMU).
The FATF reviewed Pakistans’ response to FATF questions while Hammad Azhargave a detailed briefing to the FATF.
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The FATF authorities have been told that sanctions have been imposed onoutlawed outfits. The Pakistani delegation informed that case registrationsfor terror financing increased by 451 percent. Whereas, arrests in terms ofterror financing increased by 677 percent and the process of givingpenalties in such cases increased by 403 percent.
As of December 2019, 827 cases of terror financing were registered, thePakistani delegation informed the FATF. Thursday is the last day of talksbetween Pakistan and the FATF.
