New developments reported over the Pakistan case in the FATF
BEIJING: New developments reported over the Pakistan case in the Financial Action Task Force.
A Pakistani delegation led by Minister for Economic Affairs Division Hammad Azhar briefed the Financial Action Task Force (FATF) in Beijing about the progress made by Islamabad in the last four and a half months.
The Pakistani delegation is in Beijing for three days talks with the FATF. The delegation comprises representatives of National Counter Terrorism Authority (Nacta), Foreign Ministry, State Bank of Pakistan (SBP), Customs, Interior Ministry and Financial Monitoring Unit (FMU).
The FATF authorities have been told that sanctions have been imposed on outlawed outfits. The Pakistani delegation informed that case registrations for terror financing increased by 451 percent. Whereas, arrests in terms of terror financing increased by 677 percent and the process of giving penalties in such cases increased by 403 percent.