Pakistan: FBR played key role in exclusion from FATF grey list

Islamabad, The Gulf Observer: Like many other Government organisations FBR has also played key role in completing the FATF action plans relating to DNFBPs, cash smuggling, investigating tax crimes for money laundering and confiscating the proceeds of tax frauds. In 34 items of the FATF action plans, FBR has directly dealt with at least 8 actions and spearheaded the process of their implementation.

In order to ensure compliance with regard to DNFBPs, FBR has issued AML/CFT regulations, conducted extensive outreach programs to educate about DNFBPs, established a dedicated IT-based DNFBP Management System, launched customized mobile App for registrations and screening purposes, carried out a large number of onsite inspections and imposed a wide range of penalties for non-compliance.

Similarly, in the area of cash smuggling, FBR Customs has fortified cross-border controls and implemented a comprehensive mechanism to combat cash smuggling by all means possible.
Likewise, FBR has also undertaken a large number of money laundering investigations against the tax crimes and made significant confiscations in this regard.

FBR also dedicated one of its senior officers, Mohammad Iqbal, who has made significant contributions to completing the FATF action plans while on deputation for 3 years in NACTA and later supervised the tasks related to DNFBPs.

Mr. Asim Ahmad, Chairman FBR/ Secretary Revenue Division, has felicitated all the government organizations and their key personnel including the concerned officers of Inland Revenue Service and Pakistan Customs who have worked tirelessly for the exit from the FATF grey list. The Chairman FBR reiterated FBR’s unflinching resolve and an unwavering commitment to continue implementing the anti-money laundering and combating financing terror regime in the areas supervised by FBR.