ISLAMABAD: Federal Board of Revenue (FBR) introduced “Risk Assessment Strategy” and the task has been assigned to Director General Customs Intelligence and Investigation to prepare plan till July 31.
Sources told Customs Today that the basic aim of introducing Risk Assessment Strategy is to eradicate the reservations of Financial Action Task Force (FATF) and achieve the targets assigned by FATF and also to implement the instructions to easily escape from the grey list.
Sources also added that under the Risk Assessment Strategy, high risk transit route and national terrorist network will be observed which was clearly demanded by the Financial Action Task Force. The risk assessment exercise will be conducted on high risk transit route and national terrorist network which will help curb money-laundering and terrorism financing.
Sources further said that after the preparing the plan under Risk Assessment Strategy by Director General Customs Intelligence and Investigation then it will be submitted to Financial Monitoring Unit.
It is important to mention here that Pakistan has been added to the grey list of countries involved in providing monetary assistance to terrorism and related causes. However, Pakistan has been working to curb financial assistance for terrorists, made existing laws better, and ensured improved implementation of the current regulations.
