Dar Appreciates Work Done For Enforcement Of AML/CFT Laws


Dar appreciates work done for enforcement of AML/CFT laws

ISLAMABAD, Jan 5 (UrduPoint / Pakistan Point News - 05th Jan, 2017 ) : Finance Minister Senator Mohammad Ishaq Dar chaired a meeting which discussed the Anti-Money Laundering/Combating Financing of Terrorism Regime (AML/CFT) regime in Pakistan.

The meeting was attended by the senior officers of Finance Division including Financial Monitoring Unit (FMU), a press release issued here said. Director General (DG) (FMU) briefed the participants about the actions being taken to implement the AML/CFT reforms introduced by the Federal Government through amendments made in Anti Money Laundering Act, 2010 and Anti Terrorism Act, 1997 during the last 3 and half years.

DG (FMU) shared that the chain of financial intelligence produced under the AML Act, 2010 had significantly improved over a period of time, mainly through capacity building of reporting entities, FMU and law enforcement agencies.

The Minister was briefed about the measures taken in terms of National Action Plan- Chocking financing of terrorism, to insulate the financial sector from any use by the banned entities and the associated individuals.

He was also informed about the latest action taken by the authorities to freeze the assets of individuals listed in the schedule IV of Anti Terrorism Act, 1997. While appreciating the work so far done for the enforcement of AML/CFT laws in Pakistan, the Finance Minister urged stronger enforcement to ensure that the menace of money laundering is eliminated and access of terrorists to finances is effectively denied.