Daily Times

The Federal Board of Revenue (FBR) has stressed the need for combating money laundering in its all forms and manifestations. The FBR in collaboration with the United Nations Office on Drugs and Crime (UNODC) organised outreach and capacity-building sessions for Designated Non-Financial Businesses and Professions (DNFBPs) to ensure AML/CFT compliance at Karachi, said a statement issued on Monday. DNFBP Director General Mohammad Iqbal addressing the event apprised the participants of the measures taken by FBR to facilitate the DNFBPs and help build their understanding through various activities including webinars, guidance documents, and face-to-face training sessions. He said that while the FATF actions on DNFBPs have largely been addressed, FBR as the AML/CFT regulatory authority will continue supervising the DNFBPs for implementation of the AML/CFT regime, so that the money generated through crimes cannot be concealed in real estate and gold or precious stones. The representatives from the Financial Monitoring Unit (FMU), National Counter Terrorism Authority (NACTA), and Ministry of foreign affairs were the key-note speakers in the training sessions.