Pakistan gets six more months to ‘fix’ anti-money laundering laws : Ministry of Finance

Pakistan has got six more months from the Asia Pacific Group - an arm of the FATF, to “fix” its anti-money laundering laws and take effective measures to curb terror financing and illegal remittances. (AFP/photo)
Updated 20 October 2018
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Pakistan gets six more months to ‘fix’ anti-money laundering laws : Ministry of Finance

  • APG will visit Pakistan in March-April next year for another on-site review
  • Traders say Pakistan can increase its annual remittances from $20 billion to $40 billion

ISLAMABAD: Pakistan has got six more months from the Asia Pacific Group (APG) — an arm of the Paris-based Financial Action Task Force (FATF) — to “fix” its anti-money laundering laws and take effective measures to curb terror financing and illegal remittances.

“The APG delegation has pointed out lacunae in our different laws and we will plug them all soon through proper legislation,” Noor Ahmed, special secretary Ministry of Finance, told Arab News.
“Our institutions have explained their positions and actions taken so far to curb money laundering in their meetings with the APG delegation,” he said. “We have noted their recommendations as well.”
Pakistani officials, however, did not give details of what recommendations had been proposed by the APG delegation.
Pakistan was placed on the FATF “gray list” in June this year by the global watchdog in Paris after a review of the monitoring report of the International Cooperation Review Group.
This is the second visit by the FATF team in the past three months. In August, a FATF team visited Islamabad for a similar assessment.
Last week a Pakistani delegation also participated in an FATF meeting in Paris, to apprise the global watchdog about efforts to get off the “gray-list.”
Earlier, Pakistan and the FATF had also negotiated a 10-point action plan to be implemented by September 2019 to get off the gray list.
“We have got six more months to make our systems more robust and as per the international standard,” Saeed Javed, director general (media) of Finance Ministry, told Arab News.
He said that the APG would visit Pakistan in March-April next year for another on-site review and check the progress made in light of the group’s recommendations.
The FATF is an intergovernmental body established in July 1989 during a Group of Seven (G7) summit in Paris.
Its objectives are to set standards and promote the effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
Dr. Farrukh Saleem, the government’s focal person on economy, earlier told Arab News that the government had finalized amendments in laws including the Federal Investigation Agency Act 1974, the Foreign Exchange Regulation Act 1947, the Customs Act 1969, and the Anti-Money Laundering Act 2010, to strengthen its financial system.
“The amendments proposed in these laws will be presented to the prime minister and cabinet for approval,” he said.


One third of UN workers say sexually harassed in past two years

Updated 16 January 2019
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One third of UN workers say sexually harassed in past two years

  • The online survey was completed by 30,364 people from the United Nations and its agencies
  • More than half of those experienced sexual harassment said it happened in an office environment

UNITED NATIONS: One third of UN staff and contractors experienced sexual harassment in the past two years, according to a report released by the United Nations on Tuesday.
The online survey, carried out by Deloitte in November, was completed by 30,364 people from the United Nations and its agencies — just 17 percent of those eligible. In a letter to staff, Secretary-General Antonio Guterres described the response rate as “moderately low.”
“This tells me two things: first — that we still have a long way to go before we are able to fully and openly discuss sexual harassment; and second — that there may also be an ongoing sense of mistrust, perceptions of inaction and lack of accountability,” he wrote.
The survey comes amid the wider “Me Too” movement around the world against sexual harassment and assault.
According to the report, 21.7 percent of respondents said they were subjected to sexual stories or offensive jokes, 14.2 percent received offensive remarks about their appearance, body or sexual activities and 13 percent were targeted by unwelcome attempts to draw them into a discussion on sexual matters.
Some 10.9 percent said they were subjected to gestures or use of body language of a sexual nature, which embarrassed or offended them, and 10.1 percent were touched in way that made them feel uncomfortable.
More than half of those experienced sexual harassment said it happened in an office environment, while 17.1 percent said it happened at a work-related social event. Two out of three harassers were male, according to the survey.
Only one in three people said they took action after experiencing sexual harassment.
Guterres said the report contained “some sobering statistics and evidence of what needs to change to make a harassment-free workplace real for all of us.”
“As an organization founded on equality, dignity and human rights, we must lead by example and set the standard,” he said.
The United Nations has tried to increase transparency and strengthen how it deals with such accusations over the past few years after a string of sexual exploitation and abuse accusations against UN peacekeepers in Africa.
The head of the UN agency for HIV and AIDS is also stepping down in June, six months before his term ends, after an independent panel said that his “defective leadership” tolerated “a culture of harassment, including sexual harassment, bullying, and abuse of power.”