ISLAMABAD: The Federal Board of Revenue (FBR) has organized a training session on Anti-Money Laundering (AML)/Counter Financing for Terrorism (CFT) for jewelers, accountants and lawyers.
The revenue body conducted the training session in collaboration with United Nations Office on Drugs and Crime (UNODC).
The session has been aimed at creating awareness among Designated Non-Financial Businesses and Professions (DNFBPs).
A number of office bearers of various associations were also present in the training sessions. The senior representatives from the Ministry of Foreign Affairs, National Counter Terrorism Authority (NACTA), FBR, Financial Monitoring Unit (FMU)) and Institute of Chartered Accounts of Pakistan (ICAP) were the key speakers.
In his opening remarks, Mohammad Iqbal, Director General DNFBPs, emphasized on combating Money Laundering in the non-financial sectors of the country. He apprised the participants of the FATF compliance measures and the country’s own requirements to choke the funds and resources for money laundering and financing of terrorism.
The DG DNFBPs highlighted that FBR as the AML/CFT regulatory authority will continue supervising and facilitating the DNFBPs so that the ill-gotten proceeds of crimes cannot be stashed in gold or precious metals and stones.
The speakers informed the DNFBPs on various aspects of AML/CFT, such as screening the lists of proscribed or UN-designated persons and organizations, customer’s due diligence, suspicious transaction reporting and the national risk assessment on money laundering and terrorist financing.
In the end, a question-answer session was held and the DNFBPs raised their queries on various aspects of AML/CFT implementation. The sessions were welcomed and acknowledged by all the participants.