Pakistan to apprise FATF of measures against money laundering

ISLAMABAD: A delegation of Pakistan will hold talks with the Financial Action Task Force (FATF) later this week regarding money laundering and the issue of blocking financial assistance to terror groups, ARY News reported Thursday.

The talks between the two sides will begin on February 17, in Paris.

The Pakistani delegation led by Finance Secretary Arif Ahmed Khan will leave for the French capital a day before schedule of the talks.

The FATF team will be apprised of measures taken by Pakistan against fake bank accounts and suspicious banking transactions in money laundering cases.

Related read: Finance minister reviews progress of FATF action plan

Sources informed that Pakistan would also address concerns of the FATF regarding financing to banned terror outfits.

It was reported on Jan 10 that the FATF had expressed ‘satisfaction’ to some extent regaridng Pakistan’s efforts in combating money laundering and terror financing.

The FATF session was called in Sydney that was also attend by a delegation from Pakistan.

Pakistan’s delegation included officials of the Financial Monitoring Unit, State Bank of Pakistan (SBP), National Counter Terrorism Authority (Nacta), Federal Investigation Agency (FIA) and Federal Board of Revenue (FBR).

The Paris-based global watchdog on anti-money laundering and terror financing had reviewed most of the 10-point action plan.

The anti-money laundering and anti-terror financing body had expressed its satisfaction over the steps taken by Pakistan, the sources had informed.

The international body had gone through the report sent by Pakistan in the first week of January before the review meeting.