[Daily Times 14 April 2019]
The Financial Action Task Force (FATF) has reportedly handed over to Pakistan a new set of recommendations to boost its fight against financial crimes in the country, especially the terror financing.
Pakistan is set to submit in the coming days its compliance report to the FATF on the action plan outlined during the last meeting in February. Ahead of the submission of the report, the finance ministry has received a new set of recommendations which requires Pakistan to track all gold purchases throughout the country, a private TV channel reported.
Moreover, the global watchdog has urged Pakistan to collect the data of all trusts operating across country as well as their bank accounts on the district level. The demand also includes regulation of thousands of registered trust organisations and establishment of a district-level system to regulate such organisations.
The fresh recommendations from FATF are part of the action plan Pakistan has been asked to comply with in order to warrant its exclusion from the ‘grey list’.