ISLAMABAD: Finance Minister Ishaq Dar declared that the government was making efforts to make existing anti-money laundering (AML) laws on a par with international standards.
Talking to a delegation of Asia-Pacific Regional Review Group (AP-RRG) of FATF, Mr Dar informed that anti-money laundering ordinance (AMLO) was promulgated with subsequent amendments and finally passed into law in the form of AML Act 2010.
The delegation led by Asia-Pacific Group on Money Laundering (APGML) executive secretary Gordon Philip Hook is in Pakistan to assess the implementation of anti-money laundering and combating financing of terrorism regime.
Welcoming the delegation, Senator Dar asserted that Pakistan was committed to continuing interaction with the international and regional bodies on AML/CFT and implementing all recommendations of FATF through a continuous and efficient process. Pakistan, he said, has taken a number of steps to fully comply with RRG Action Plan as agreed in June 2010(revised in 2011).
He added that in accordance with the FATF requirements, serious fiscal offences are being identified for inclusion as predicate offences under AML Act 2010.
