Dar appreciates work done for enforcement of AML/CFT laws

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ISLAMABAD, Jan 5 (APP): 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.