Money-laundering: Government sets up Financial Monitoring Unit
The enactment of Anti Money Laundering Act is a key steps taken to control the crime
PHOTO: EXPRESS
ISLAMABAD:
The government, as part of its measures to curb money laundering, has established a Financial Monitoring Unit (FMU) to disseminate financial intelligence to designated Law Enforcement Agencies (LEAs) and Financial Sector Regulators.
Highlighting the measures, sources at Interior Division on Friday said these included ratification of all relevant United Nations Conventions and Protocols in Anti-Money Laundering/Combating Financing of Terrorism Domain. The enactment of Anti Money Laundering Act, 2010, issuance of Anti Money Laundering Regulations, 2008 and 2015 under Anti-Money Laundering Act, 2010 and constitution of National Executive Committee and General Committee under AML Act, 2010 were other key steps taken to control the crime.
Sources said that four LEAs ie NAB, FIA, ANF and FBR were designated with their distinct mandate/jurisdiction to conduct investigation and prosecution of money laundering cases.
Published in The Express Tribune, January 7th, 2017.
The government, as part of its measures to curb money laundering, has established a Financial Monitoring Unit (FMU) to disseminate financial intelligence to designated Law Enforcement Agencies (LEAs) and Financial Sector Regulators.
Highlighting the measures, sources at Interior Division on Friday said these included ratification of all relevant United Nations Conventions and Protocols in Anti-Money Laundering/Combating Financing of Terrorism Domain. The enactment of Anti Money Laundering Act, 2010, issuance of Anti Money Laundering Regulations, 2008 and 2015 under Anti-Money Laundering Act, 2010 and constitution of National Executive Committee and General Committee under AML Act, 2010 were other key steps taken to control the crime.
Sources said that four LEAs ie NAB, FIA, ANF and FBR were designated with their distinct mandate/jurisdiction to conduct investigation and prosecution of money laundering cases.
Published in The Express Tribune, January 7th, 2017.