ISLAMABAD: The Finance Action Task Force (FATF) on Friday kept Pakistan in ‘grey list’ despite the country has made significant progress of addressing 26 action plan out of 27. FATF President Dr Marcus Pleyer in a press conference announced that Pakistan will continue to remain on the increased monitoring list, also known as the grey […]
KARACHI: The plenary meeting of Financial Action Task Force (FATF) is scheduled to start from June 21, 2021. The meeting may decide to give green signal to Pakistan for white list or maintain its status in the grey list. The virtual plenary meeting of the FATF will continue till June 25, 2021. It is hoped […]
KARACHI: Asia Pacific Group (APG) on Money Laundering has published results of Pakistan’s second Mutual Evaluation follow-up Report on 2 June 2021. As per the report, Pakistan has achieved compliant/largely compliant rating in 31 out of 40 Recommendations of Financial Action Task Force (FATF) in Technical Compliance. These results prove the sincerity along with resolve […]
ISLAMABAD: Financial Action Task Force (FATF) on Thursday kept Pakistan in its grey list despite acknowledging significant progress made by the country. “As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan before June 2021,” a statement of the FATF said. The FATF takes note of […]
ISLAMABAD: The Federal Board of Revenue (FBR) has said that jewelers making cash transactions with their buyers and sellers above Rs2 million are liable to monitoring under Anti-Money Laundering (AML)/Countering Financing of Terrorism (CFT), sources said on Thursday. In this regard the FBR issued guidelines for persons dealing in precious stones and metals. The procedures […]
KARACHI: Financial institution are required to ensure complete identity verification of customers for compliance with Financial Action Task Force (FATF).
KARACHI: Federal Board of Revenue (FBR) has issued guidelines for accountants related to Anti-Money Laundering (AML)/Counter Financing of Terrorism (CFT) laws to comply with conditions of Financial Action Task Force (FATF). The guidelines have been prepared jointly by Pakistan’s three designated AML/CFT supervisors of accountants in Pakistan, namely The Institute of Chartered Accountants of Pakistan […]
ISLAMABAD: Every cash transaction for sale and purchase of a housing unit of above Rs2 million is required to be reported under anti-money laundering (AML) / Counter Financing of Terrorism (CFT) to comply with conditions of Financial Action Task Force (FATF), the Federal Board of Revenue (FBR) said on Monday. The FBR issued guidelines to […]
Officers from the Federal Board of Revenue (FBR) will be posted at the Financial Action Task Force (FATF) Secretariat on a deputation basis.
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issues regulations for exercising powers to monitor transactions by jewelers, real estate agents and accountants to check dirty money. The FBR issued SRO 1319(I)/2020 dated December 10, 2020 to empower officers of Inland Revenue to exercise powers conferred by Section 6A of Anti-Money Laundering Act, 2010. Regulating […]