ISLAMABAD: Federal Board of Revenue has initiated administrative measures to further strengthen the enforcement of laws to address the smuggling of foreign currency.
Pakistan Customs has deployed Currency Declaration System (CDS) at 24 entry and exit points including international airports, land borders, railway links as well as sea ports for monitoring of cash movement.
All these stations are linked together and the database is updated on real time-online basis. The same data is also being shared with the Financial Monitoring Unit (FMU) on real-time basis. The CDS will work as a precursor to the newly-emerging concept of Customs National Targeting Centre (NTC). The NTC will gather information relating to the passengers, cargo, currency declarations as well as immigration.
The system will not only identify the trends especially on movement of passengers and the currency being carried but will also generate alerts for the targeting teams to take preventive measures in a proactive manner. This system will also work as a single window for all other law enforcement agencies in order to take necessary action in their areas of jurisdiction.
