The Social Welfare Department in collaboration with a local governmental organization (Blue Veins) organised an awareness workshop on Money Laundering and Countering Financing of Terrorism (AML-CFT) for Non-Profit Organizations (NPO)/NGOs.
The event was organised in a local hotel where Director Counter Terrorism Department (KP) and representatives of Security and Exchange Commission of Pakistan (SECP) gave detailed presentations of the on Anti-Money Laundering and Countering Financing of Terrorism (AML-CFT) and guidelines for non-profit organizations.
Saeed-ul-Hassan Director Social Welfare, Special Education & Women Empowerment Department welcomed the participants and said "Non-profit organisations perform a vital role in our society, providing relief and support to groups of the population in need, and at times of urgent crisis.
Financial Action Task Force (FATF) Recommendation 8 requires that the laws and regulations that govern non-profit organizations be reviewed so that these organizations cannot be abused for the financing of terrorism" He further said that government is committed in preventing misuse of NPOs for the financing of terrorism while, at the same time, respecting legitimate actions of NPOs.
Ayaz Khan, Director Counter Terrorism Department (CTD) government highly appreciated the role of Blue Veins in collaborating for this event during his presentation said FATF 40 recommendations are the internationally endorsed global standards against money laundering and terrorist financing. These recommendations increase transparency and enable countries to successfully take action against illicit use of their financial system.
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