Inquiries held against 2,420 people from 2013 to 18, Pakistan tells FATF

Inquiries, 2,420 people, 2013 to 18, Pakistan, FATF
14 Oct, 2019 11:49 am

ISLAMABAD (92 News) – A Pakistan delegation led by Minister for Economic Affairs Hammad Azhar presented a report to Financial Action Task Force (FATF) on the steps taken against money laundering and terrorist financing during a meeting in Paris on Monday.

According to the report received by 92 News, inquiries were held against 2,420 people from 2013 to 2018. “As many as 354 people were challaned.

Moreover, investigations into money laundering and terrorist financing were held against 448 people,” it said. “In Punjab, 120 counterterrorism cases were registered and 166 people were arrested while 49 accused were convicted. In Sindh, 24 cases were registered and five people were convicted. In Balochistan, 228 cases were registered while 58 people were convicted.”

The report says that 116 accused were sentenced, while 10 recommendations will be implemented by February 2020.

Sources in the Finance Ministry said that Pakistan will seek time for implementing recommendations till June 2021.

Representatives from 205 countries and jurisdictions around the world, the IMF, UN, World Bank and other organizations are attending the meeting. Six days of meetings will focus on disrupting financial flows linked to crime and terrorism and discuss ways to contribute to global safety and security.

On September 11, Federal Minister for Revenue Hammad Azhar said that Pakistan had submitted a reply to 125 questions asked by Financial Action Task Force’s (FATF) Asia Pacific Group.

Talking exclusively to 92 News, he had said that they had also briefed the FATF APG about four-month performance of Pakistan.

“Pakistan has made a significant progress in 4-5 months. The decision on removing Pakistan from grey list will be made on the report about our performance next month,” he said.

On Monday, Pakistan’s 15-member economic team led by Minister for Economic Affairs Hammad Azhar had answered 125 questions on the first day of the session of Financial Action Task Force’s (FATF) Asia Pacific Group (APG). The session had also discussed the final evaluation of anti-money laundering, countering the terrorism financing report and the new National Risk Assessment.

The Asia-Pacific Group will analyze Pakistan’s targets and implementations over its overall recommendations. Pakistan will argue its case and present its final defence.

The decisive report will be forwarded to the FATF after the meeting. It was reported that the outcome of the talks would decide whether Pakistan’s name stayed on the grey list or would it be added to the black list.

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