A visiting delegation of the Asia Pacific Group (APG) is set to complete its review of Pakistan’s implementation of action plan issued by the Financial Action Task Force (FATF) to counter terror-financing after the forum put Pakistan on its ‘grey-list’ in June this year.
According to a local media report, a finance ministry official said that the delegation is expected to meet with the caretaker Finance Minister Shamshad Akhtar to have a wind-up session after going through a checklist of 26 actionable points with other stakeholders, including the Financial Monitoring Unit (FMU) of the State Bank of Pakistan, Securities and Exchange Commission of Pakistan (SECP), National Counter Terrorism Authority (NACTA), Federal Investigation Agency (FIA) and representatives of the ministries of foreign affairs and interior.
Moreover, a checklist had already been finalized by the authorities for sharing it with the APG in order to improve laws, under which “the FMU will be upgraded punishments and penalties will be enhanced to check to smuggle of currency and two legal documents — Anti-Money Laundering Ordinance 2010 and Foreign Exchange Regulation Act 1947 — will be strengthened to meet the requirements of United Nations resolutions”.
As per the local media report, by January 2019, Pakistan will “identify and assess domestic and international terror financing risks to and from its system to strengthen investigations and improve on inter-agency coordination as well as federal and provincial coordination to combat these risks”.
[…] FATF delegation to conclude review of ‘action plan’ implementation: report […]
Comments are closed.