FMU prepares red flags for real estate agents to report suspicious transactions

KARACHI: Financial Monitoring Unit (FMU) has prepared red flags indicators for real estate agents to report suspicious transactions related sales and purchase of immovable properties for prevent money laundering and terror financing. According to the FMU, Under Section 7(1) of Anti-Money Laundering (AML) Act 2010 which states that reporting entities including Real Estate Agents, property […]

by Mrs. Anjum Shahnawaz

Taxpayers’ declarations to be checked for money laundering

Jan 5

Taxation

Taxpayers’ declarations to be checked for money laundering

ISLAMABAD: Financial Monitoring Unit (FMU) has been allowed to obtain information of taxpayers from tax authorities to check income tax returns and other declarations for money laundering and terror financing. The FMU has been granted access to taxpayers’ data through amendment introduced to Section 216 of the Income Tax Ordinance, 2001. The amendment has been […]

by Mrs. Anjum Shahnawaz