The Federal Board of Revenue (FBR) FBR in collaboration with United Nations Office on Drugs and Crime (UNODC) organized training sessions on AML/CFT compliance for Designated Non-Financial Businesses and Professions (DNFBPs) comprising jewelers, accountants and lawyers. A number of office bearers of various associations were also present in the training sessions. The senior representatives from Ministry of Foreign Affairs, National Counter Terrorism Authority (NACTA), FBR, Financial Monitoring Unit (FMU)) and Institute of Chartered Accounts of Pakistan (ICAP) were the key speakers.
In his opening remarks, Mr. Mohammad Iqbal, Director General DNFBPs, emphasized on combating Money Laundering in the non-financial sectors of the country. He apprised the participants of the FATF compliance measures and the country’s own requirements to choke the funds and resources for money laundering and financing of terrorism. The DG DNFBPs highlighted that 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 gold or precious metals and stones.
The speakers informed the DNFBPs on various aspects of AML/CFT, such as screening the lists of proscribed or UN designated persons and organizations, customer’s due diligence, suspicious transaction reporting and the national risk assessment on money laundering and terrorist financing.
At the end, a question answer session was held and the DNFBPs raised their queries on various aspects of AML/CFT implementation. The sessions were welcomed and acknowledged by all the participants.