Pakistan sends report to FATF headquarters

ISLAMABAD: Pakistan has forwarded its report to the Financial Action Task Force (FATF) headquarters, said Foreign Ministry sources on Friday.

According to sources, Pakistan’s 12-member delegation will reach Sydney tomorrow for attending the FATF session.

Federal Secretary for Finance will head the delegation which will include representatives from the State Bank, International Monetary Fund, National Anti-terrorism Authority and Federal Board of Revenue.

Sources said that the report included progress on implementation of recommendation by the FATF.

In the report, the source of terrorism funding and smuggling were identified, mentioning Afghan Transit Trade as one possibility.

Sources said that the report stated that foreign agencies are also funding terrorism and Pakistan has strengthened scrutiny at the Pak-Afghan border.

Pakistan’s various institutions such as NAB, FIA, FBR, SBP and NAF have identified 3,677 suspicious remittances.

In October, the FATF Asia Pacific Group had demanded more action from Pakistan to put an end to money laundering and giving financial assistance to terrorists.

It is pertinent to mention that the FATF has included Pakistan in its ‘grey list’ upon failure to stop financial aid to terrorists.