FBR enhancing efforts to deal with cases of AML/CFT to keep Pakistan out of FATF grey list permanently.

ISLAMAABD -- The Federal Board of Revenue (FBR) is enhancing its efforts to effectively deal with the cases of Anti: Money Laundering (AML)/Counter Financing Terrorism (CFT) to keep Pakistan out of the Financial Action Task Force (FATF) grey list permanently.

An official of the FBR informed that Pakistan remained on FATF's Grey List from 2008 to 2010, 2012 to 2015 and 2018 to 2022. Due to strong political will and consistent AML/CFT efforts of various departments especially FBR, Pakistan remained out of Grey List.

The Directorate Generals of Intelligence and Investigations of Inland Revenue and Customs have been designated as Investigating and prosecuting agencies designated under Anti: Money Laundering Act, 2010. Both these agencies have performed extra ordinary during the recent past and Pakistan was taken off from FATF grey list. This performance is required to be continued by facing the challenges.

The official highlighted that the FBR has chalked out an effective plan to set future directions for the Directorate General of Intelligence and Investigation (Inland Revenue) before taking any action against the businessmen under the provisions of the AML Act. In this regard, the FBR has drafted a standing operating procedure (SOP).

Under the SOP, the Directorate General of Intelligence and...