FBR organises AML/CFT training sessions

ISLAMABAD: The Federal Board of Revenue (FBR) in collaboration with the United Nations Office on Drugs and Crime (UNODC) organised capacity-building training sessions on AML/CFT compliance in Lahore, a statement said on Monday.

Mohammad Iqbal, director general of the Designated Non-Financial Businesses and Professions (DNFBPs), apprised the participants of the steps taken to reinforce the anti-money laundering and countering terrorist financing regimes in Pakistan and emphasised on sustained counter measures in the non-financial sectors of the country.

The participants were informed that the revenue board will continue to facilitate DNFBPs build their understanding of the AML/CFT regime and to enable them to perform their functions efficiently.

The speakers apprised the DNFBPs on various aspects of AML/CFT, such as screening the lists of proscribed or the UN-designated persons and organisations, customer’s due diligence, suspicious transaction reporting and the national risk assessment on money laundering and terrorist financing.

The real estate agents, jewellers and other participants expressed their commitment to combat money laundering and financing of terrorism in the best national interests.

The DNFBPs director general highlighted that the FBR, as the AML/CFT regulatory authority, will continue supervising and facilitating the DNFBPs so that the ill-gotten proceeds of crimes cannot be stashed in real estate, gold or precious metals and stones. The participants warmly welcomed the sessions.