FBR's key role in ensuring compliance of FATF action plans

June 18, 2022: Like many other governmental organizations, FBR has played a key role in completing the FATF actions related to DNFBPs, cash smuggling, investigating tax crimes for money laundering, and confiscating the proceeds of tax crimes. In the 34 actions of the FATF action plans, FBR has directly dealt with at least 8 actions and spearheaded the process of implementation.   

In order to ensure compliance with regard to DNFBPs, FBR has issued AML/CFT regulations, conducted extensive outreach to educate DNFBPs, established a dedicated IT based DNFBP Management System, launched customized mobile App for registrations and screening purposes, conducted a large number of onsite inspections, and imposed a wide range of penalties for non compliance.

Similarly, in the area of cash smuggling, FBR Customs has fortified cross-border controls and implemented a comprehensive mechanism to combat cash smuggling, by all means possible.
Likewise, FBR has also undertaken a large number of money laundering investigations against the tax crimes and has also made significant confiscations in this regard.

Mr. Asim Ahmad, Chairman FBR/ Secretary Revenue Division, has felicitated all the government organizations and their key personnel including the relevant officers of Inland Revenue Service and Pakistan Customs who have worked tirelessly to complete the FATF actions. The Chairman FBR reiterated FBR’s unflinching resolve and an unwavering commitment to continue with implementing the anti-money laundering and countering financing of terrorism regime in the areas supervised by FBR.

Press Release