ISLAMABAD – Finance Minister Asad Umer on Thursday said that the FinancialAction Task Force (FATF) has acknowledged Pakistan’s measures to curb moneylaundering.
A delegation of the FATF led by Gorden Hik met Finance Minister Asad Umerin Islamabad.
During the meeting, the head of the delegation said that the FinancialAction Task Forces (FATF) Asia Pacific Group (APG) had very positivemeetings with the officials in Pakistan.
Gorden said that they acknowledged Pakistan’s measures to curb moneylaundering.
Speaking on the occasion, the finance minister said that Pakistan wasdetermined to adopt modern ways to stop money laundering.
Umer went on to say that the Pakistan government would continue tocooperate with the body and will take steps on the directions of the FATF.
Earlier today, the National Accountability Bureau (NAB) had briefed theFinancial Action Task Forces (FATF) Asia Pacific Group (APG) delegation onmeasures and cases related to money laundering.
Sources said that the FATF was told that corrupt elements involved in moneylaundering were being convicted by the courts and they would not be spared.
Read Top Stories
The delegation was also briefed about the anti-graft watchdog’s overallperformance.
On the other hand, sources privy to the finance ministry said that thedialogues with the delegation of Financial Action Task Forces (FATF) AsiaPacific Group (APG) would complete today (Thursday) and the delegationwould leave Pakistan tomorrow.
Work on implementation and steps on the FATF terms have begun, the sourcessaid and added Pakistan has assured the FATF of further tightening theanti-money laundering laws.
The decision to amend FIA Act 1974 and State Bank Act 1947 has also beentaken and the Anti-Money Laundering Act would also be amended.
The properties of those involved in money laundering would be seized forsix months instead of three months. The government also decided to form atask force to oversee implementation laws.
The task force would be constituted under the chairmanship of InteriorSecretary and its offices would be made at all airports of the country.Steps would also be taken to make the anti-money laundering task forcefunctional at provincial and federation level. – APP
