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Financial Action Task Force (FATF)

‘FATF satisfied over Pakistan’s efforts to curb money laundering, terror financing’

ISLAMABAD: Pakistan's efforts to combat money laundering and terror financing, to have an extent satisfied the Financial Action Task Force (FATF), according to sources. The FATF session has also pointed out certain areas for betterment before May this year to get out of the grey list. Pakistan's delegation headed by Finance Secretary Arif Ahmed Khan is currently attending a three-day conference of the FATF in Sydney. The delegation includes officials of the Financial Monitoring Unit, State Bank of Pakistan (SBP),…

Iran approves anti-money laundering bill

TEHRAN: An Iranian arbitration body gave its approval on Saturday to an anti-money laundering bill seen as crucial to maintaining international trade and banking ties, the official IRNA news agency reported. "The bill on amending the law to counter money laundering was approved with certain changes and will be sent to the parliament speaker to be communicated to the government," Expediency Council member Gholamreza Mesbahi-Moghadam told IRNA. The Expediency Council settles disputes between parliament, which approved…

FATF team concludes visit; report on Pakistan to be published on Nov 19

ISLAMABAD: The visit of a delegation of the Financial Action Task Force’s (FATF) Asia Pacific Group (APG) to Pakistan was wrapped up on Saturday with recommendations to take more steps against terror financing and money laundering. The AGP group proposed Pakistan to tighten laws, rules and regulations, and fixing flaws in the mechanism of running institutions. The FATF team will present its observational report on Pakistan on November 19. In response to which, Pakistan will also submit its own account on the matter…

Follow-up talks to take place today between FATF delegation and NAB

ISLAMABAD: A delegation of the Financial Action Task Force’s (FATF) Asia Pacific Group (APG) will meet the officials of the National Accountability Bureau (NAB) on Wednesday (today) in order to hold follow-up talks. As per sources, the FATF mission will also meet officials of the State Bank and Ministry of Finance today. The focal point of the meeting will be curbing money laundering and terror financing. More meetings are also expected to take place with the attorney general, representatives of the provincial high…

FATF delegation puts forth demands to Islamabad

ISLAMABAD: Delegation of Financial Action Task Force (FATF) has demanded from the government of Pakistan to take a number of steps to ameliorate its position on the global forum. According to details, FATF mission during its negotiations with Pakistan, called for measures to curb money laundering and terror financing. The FATF team also asked the government to keep the record of transactions, from 3000-15000 US dollars and euros, taking place in the form of assets, gold and other sectors like metal business and law…

FATF team arrives in Pakistan, final negotiations begin

ISLAMABAD: With the arrival of the Financial Action Task Force (FATF) team in Islamabad on Sunday night, the final negotiations between the government and the delegation began on Monday in the federal capital. FATF Asia-Pacific team will be in the country until October 19 to review the administrative and legal measures taken by Pakistan to curb the financial assistance of terrorists. During its visit from October 7-19, the foreign delegation will meet officials of the ministries of finance and interior, the financial…

Govt, FATF to sit for final negotiations on Monday

ISLAMABAD: Final negotiations between the Financial Action Task Force (FATF) and the government are scheduled to begin on Monday in the federal capital. During its visit from October 7-9, the FATF delegation will meet officials of the ministries of finance and interior, the financial monitoring unit, and the state bank . The administrative and legal measures taken by Pakistan to stop the monetary assistance of terrorists will also be reviewed by the foreign team, sources said. In this regard, a working paper has also…