The National Accountability Bureau (NAB) on Thursday thoroughly briefed Financial Action Task Force’s (FATF) Asia Pacific Group (APG) on the measures taken by Pakistan to curb money laundering, a private media outlet reported.
The FATF delegation was apprised that the corrupt elements found to be involved in money laundering are being convicted by the courts due to a rigorous investigation carried out by NAB.
According to the media reports, the finance ministry said that the dialogues with the delegation of FATF would complete come to an today (Thursday) and the delegation would leave Pakistan tomorrow.
It was further said that the required work for the implementation FATF’s conditions has begun and Pakistan has assured the FATF of further tightening the anti-money laundering laws.
The decision to amend FIA Act 1974 and State Bank Act 1947 is also considered and the Anti-Money Laundering Act would also be amended.
The properties of those involved in money laundering would be seized for six months instead of three months. The government also decided to form a task force to oversee implementation laws.
The task force would be constituted under the chairmanship of Interior Secretary and its offices would be made at all airports of the country. Steps would also be taken to make the anti-money laundering task force functional at provincial and federation level.
