Money Laundering

FBR to implement real estate rules as per FATF action plan

FBR to implement real estate rules as per FATF action plan

February 27, 2020

ISLAMABAD: Following the Financial Action Task Force’s (FATF) decision to extend the deadline for Pakistan to complete its 27-point action plan, the Federal Board of Revenue (FBR) is determined to step up monitoring of real estate, gems and jewellery sectors. Implementation of rules in the aforementioned areas will reportedly take[...]
Real estate among others to be monitored via interim setup

Real estate among other sectors to be monitored via interim setup

November 25, 2019

ISLAMABAD: The government’s efforts to address concerns raised by the Financial Action Task Force (FATF) have led to the development of an interim regulatory framework to bring all unregulated sectors of the Pakistan’s economy under scrutiny. The National FATF Coordination Committee (NFCC), commissioned by Prime Minister Imran Khan in the[...]
Questionable role of shell firms a cause of concern, says FATF report

Questionable role of shell firms a cause of concern, says FATF report

October 28, 2019

ISLAMABAD: In its latest report, the Financial Action Task Force (FATF) has voiced its concerns on the doubtful role of shell companies, terming them a harbour of money laundering. The report further emphasised on “best practices” for governments to “get rid of the cloak of secrecy” pertaining to the actual[...]
FATF action plan to be implemented by February: Hafeez

FATF action plan to be implemented by February: Hafeez

October 22, 2019

WASHINGTON: Pakistan is committed to thoroughly implementing its action plan to counter money laundering and terrorist financing by February next year and there’s no disagreement among various government institutions on this matters, says Financial Adviser Abdul Hafeez Shaikh. The Financial Action Task Force (FATF) gave Pakistan four months on Friday,[...]