PAKISTAN STRUGGLES AGAINST THE ODDS ON AML
June 1st, 2013
PAKISTAN has strengthened its anti-money laundering (AML) and combating the financing of terrorism (CFT) laws and institutions but still faces huge challenges to fight dirty money flows stemming from its large black economy, corruption, tax evasion, smuggling, political conflicts of interest and its role as a conduit for drug trafficking and terrorists.Indeed, in October 2012 and February 2013 assessments on the country, the international Financial Action Task Force (FATF) highlighted deficiencies in Pakistan’s AML/CTF effort.Pakistani authorities need “to ...
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