Pakistan now fulfills major requirement of FATF

ISLAMABAD (92 News) - Pakistan has now fulfilled a major requirement of the Financial Action Task Force (FATF) as President Dr Arif Alvi has promulgated the Anti-Money Laundering Amendment Act, 2020 on Thursday. The new law has been implemented with immediate effect in Pakistan today. The National Assembly (NA) Secretariat confirmed the development that the president signed the Anti-Money Laundering Amendment Act, 2020. Pakistan has now fulfilled a major requirement of the Financial Action Task Force (FATF) for special measures to curb terror financing. Under the new law, those persons and institutions will be pronounced strict punishments over their involvement in money laundering.