Anti-money laundering cell established at NAB

amendment ordinance NAB amendment ordinance NAB chariman some powers Law MinistryAnti-money laundering cell NAB national Accountability Bureau
17 Oct, 2019 3:26 pm

ISLAMABAD (92 News) – An anti-money laundering and combating the financing of terrorism cell has been established at National Accountability Bureau, Islamabad.

The cell, to be headed by Director General Operations NAB Headquarters Zahir Shah, will have five members.

The main responsibilities of the cell will include compliance, monitoring, analysis and coordination with National FATF Secretariat and relevant stakeholders.

On the other hand, the federal government is efficiently working on measures to root out the financial crimes which caused major damages to the national economy as part of the global efforts to block all loopholes for illegal means of money transfers and terror financing.

Earlier in September last year, the Securities and Exchange Commission of Pakistan (SECP) had issued the Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT) guidelines for non-profit organizations (NPOs).

The guidelines have been issued on the basis of the recommendations of the Financial Action Task Force (FATF), keeping in view the evolving threats and challenges faced by NPO sector in the country.

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