Govt to establishtask forces to check money laundering

ISLAMABAD: In order to check money laundering and ensure effective implementation of the Financial Action Task Force (FATF) recommendations, the federal government has decided to establish task forces with offices in provinces, The News has learnt.

The decision to establish task forces was made in a meeting headed by the secretary interior at the Interior Ministry on Wednesday. All concerned departments participated in the meeting and supported the idea to establish such forces so that coordination can be improved and anti-money laundering efforts can be more effective.

According to the Interior Ministry sources, the federal task forces will be headed by interior secretary and chief secretaries will be heading this force at provincial level. As per plan, representatives of civil and military intelligence agencies, NAB, FIA, Anti-Narcotics Force and FBR will be part of this force. The task force will have offices at all airports and will ensure strict supervision to stop money laundering.

All members departments will ensure best practices of coordination among all departments having one office at airports. Similarly, if they have to conduct operation in provinces, these agencies will pool information and culprits will be nabbed. The team will also have the power to conduct information-based raids at any place in the country.

Sources said that working of Forex companies, suspicious transaction in banks and non-profit organisations will be supervised to keep a check on money transactions, especially with foreign countries. The News learnt that the Secretary Interior Major (R) Azam Salman will give briefing to the prime minister next week.