FBR to review progress on FATF action plan

Will discuss Directorate of Customs Intelligence and Investigation’s performance

Irshad Ansari August 25, 2019
Will discuss Directorate of Customs Intelligence and Investigation’s performance

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to call a high-level meeting to review the progress in the money-laundering cases and assess the performance of the Directorate of Customs Intelligence and Investigation, a senior FBR official says.

“The session will contain extensive briefing on the progress of cases regarding money laundering and terrorism financing in light of the Financial Action Task Force’s (FATF) action plan,” said the official.
According to sources, Directorate of Customs Intelligence and Investigation officials would also attend the meeting.

The session would check the progress of the anti-money laundering and terror financing cases, including the ones pertaining to Quantal Technologies and Comprehensive Business International, Sundar Trading Company, KK Metal Industries and Khurram Steel Mills.

APG places Pakistan on enhanced monitoring list for at least one year

The sources said the government had chalked out a comprehensive action plan after it was dragged into the grey list of the FATF.
In order to implement the plan, several government institutions, including the FBR had been given special tasks and asked to submit reports as per the guidelines of financial monitoring units (FMUs).

The intelligence and investigation department had also taken effective measures in light of the action plan and unearthed several cases which were ongoing.

According to sources, a recent session of the FATF held in Australia had also stressed on the role of prosecution, investigation, monitoring and conviction in cases pertaining to terror financing.

The current meeting’s objectives, sources said, were similar to those of the FATF meeting in Australia. The session would review the progress on money laundering based on which the future course of action would be determined.


Sophie | 2 years ago | Reply Unless IK takes ownerhsip this "action plan" is going nowhere. It's time for IK to show leadership and past time we got ourselves removed from the gray list.
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