FMU Issues Red Flag Indicators For Detection of Transactions Made Through The Proceeds of Drug Trafficking
Financial Monitoring Unit (FMU) has issued ‘red flag indicators’ to the financial institutions for detection of financial transactions relating to proceeds generated through drug trafficking.
The FMU has shared these ‘Red Flag indicators’ with the Governor, State Bank of Pakistan; Chairman, Securities and Exchange Commission of Pakistan; Chairman Federal Board of Revenue; Directorate General of Designated Non-Financial Business and Professions (DNFBPs); President, Institute of Chartered Account Pakistan (ICAP); President, Institute of Cost and Management Accountant Pakistan (ICMAP); Director-General, Central Directorate of National Savings (CDNS) and Director General, Anti-Narcotics Force.
Dubai: Businesses registered as real estate brokers, auditors and consultants are coming under inspection by the UAE Ministry of Economy for their compliance with anti-money laundering and combating terrorism financing regulations. This applies to those professions marked under the ‘Designated Non-Financial Business and Provisions’ category.
These establishments are required to register in the government regulations approved for countering money laundering and combating the financing of terrorism before the end of the extended grace period that ends on April 30.
Failure to register in the goAML system and Automatic Reporting System for Sanctions Lists will come into effect from May 1 will invite penalties.
FBR Designates DG DNFBPs to Hear Appeals Against Sanctions propakistani.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propakistani.pk Daily Mail and Mail on Sunday newspapers.
FATF: looking into the crystal ball
Pakistan has shown progress on the FATF action plan in the last 18 months and is now very close to the finish line
The writer is a public policy expert and an honorary Fellow of Consortium for Development Policy Research. He tweets @hasaankhawar
On February 22, as Pakistani officials joined the FATF’s virtual plenary session, they probably knew in their hearts that Pakistan was still away from an exit from the grey list, yet they took comfort in knowing that Pakistan has successfully dodged the threat of blacklisting, which could have been catastrophic for the country. Only a few months ago, the concluding statement of the FATF’s October plenary session had already indicated a change of heart in the global watchdog, as it confirmed that Pakistan had successfully completed 21 out of 27 actions. It was the first time since Pakistan’s blacklisting in 2018 that the official FATF statement did not carry an ultimatum. The run-up to the February
FATF : pas de sortie de la Black List de l UE avant octobre business.mega.mu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business.mega.mu Daily Mail and Mail on Sunday newspapers.