Abb Takk News

Pakistan Submits Reports To FATF

BEIJING: Pakistan on Saturday submitted a report on the measures taken over Financial Action Task Force’s (FATF) recommendations.

According to sources, Pakistani delegation in a meeting with financial watchdog’s Asia Pacific Group handed over their report which will be submitted to FATF and a final decision will be made in the mid of June.

Pakistan in the report has informed the anti-money laundering watchdog that a 10-point action plan has been prepared to curb the terror financing via non-banking procedures.

The watchdog was also informed by the Pakistan officials that a strict measure will be taken against money launderers and a bill has been proposed to increase the punishments and fines on alleged money launderers.

The FATF in the report was also informed about the operation against the outlawed organizations.