Pakistan briefs FATF on anti-money laundering, terror financing efforts


BEIJING (DNA) – The three-day dialogues between Pakistan and Financial Action Task Force (FATF) have ended on Friday in China.During the dialogues, Pakistani officials presented its arguments to the FATF officials about Islamabad’s efforts against money laundering and terror financing.The next round of talks will be held from June 17-20 in the United States of America.

Source said that the Customs officials apprised the FATF delegations bout measures taken to stop currency smuggling. They also informed the FATF about steps being taken to stop money laundering and 10-point action plan.

The international institution was also briefed how Pakistan stopped banking and non-banking funding of terrorists.

Earlier, a delegation of Pakistani officials had arrived in China and to brief the two-day APG session about Pakistan’s efforts and progress in action against money laundering and terror financing.

The delegation led by Finance Secretary Mohammad Younas Dagha comprises officials from the Financial Monitoring Unit, Ministry of Foreign Affairs, National Counter Terrorism Authority, the interior ministry, the Federal Board of Revenue (FBR), the State Bank of Pakistan, Securities and Exchange Commission of Pakistan and the Federal Investigation Agency.

The government had last week ordered constitution of the Directorate of Cross Border Currency Movement (CBCM) in Islamabad to maintain a data base of currency seizures.

Moreover, a Data and Risk Analysis Cell had also been created to conduct regular analysis of data pertaining to currency seizures, currency declarations, banking transactions, benami accounts, transaction, etc to combat money laundering.