Finance Minister reviews progress on FATF action plan
National Counter Terrorism Authority (NACTA) made a detailed presentation on the Terrorist Financing Risk Assessment, prepared jointly by NACTA and Federal Investigating Agency (FIA) in consultation with a number of relevant authorities.
After detailed deliberations on various aspects of the assessment report, the NEC approved the same subject to addressing certain observations in respect of key policy and legislative areas.
NACTA will finalize the report after addressing the observations. The NEC also approved the Risk Assessment Report on cash smuggling prepared by FBR-Customs.
Financial Monitoring Unit (FMU) presented the analysis on suspicious transaction reports filed by the financial sector in the last three years and the law enforcement actions taken against money laundering and terrorism financing on the basis of such reports.
NEC advised the authorities concerned to enhance enforcement actions and adopt a result oriented approach.
The Chairman NEC advised all the departmental heads to regularly monitor timely implementation of the FATF Action Plan. The need for a coordinated effort with the provinces was also highlighted.
The meeting was attended by Minister for Foreign Affairs, Minister for Law & Justice, Minister of State for Interior, Governor-SBP, Chairman-SECP, Director General-FIA, Director General-NACTA, Director General-FBR Customs, Director General-FMU & other senior officials of the Federal and Provincial Governments. - APP