Anti-Money Laundering: NEC approves guidelines for improving LEAs capacity

ISLAMABAD: The National Executive Committee (NEC) on Anti-Money Laundering has approved the guidelines for improving the capacity of the law enforcement agencies in carrying out investigations, and prosecution of money laundering cases.

The NEC meeting chaired by the Adviser to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh, on Thursday, also gave approval for the rules regarding Centre Directorate of National Saving (CDNS) and the Pakistan Post, which would be later approved by the Federal Government, besides this, there was a discussion on the follow up actions based on amendments in the AML Act 2010.

The DG FMU shared the progress on the FATF Action Plan including the update on the face-to-face meeting with the joint group in the current month. She briefed that Pakistan had demonstrated robust progress towards the completion of its ICRG Action Plan irrespective of the challenges of the Covid-19. It was further briefed in the meeting that Pakistan had amended 15 laws for addressing the shortcomings in accordance with the FATF and the APG recommended actions.

Copyright Business Recorder, 2020