FIA establishes FATF desks across all zones to improve implementation of international investigation standards

LAHORE: The Federal Investigation Agency (FIA) has established Financial Action Task Force (FATF) desks across all its wings and zones by expanding the existing FATF secretariat at the Anti-Money Laundering Directorate, as part of the country’s upcoming evaluation by the global anti-money laundering watchdog next year. The move is intended to improve the effective implementation of international standards with regard to investigations into money laundering, terrorism financing and predicate offences. “This significant step will also improve the quality of investigations and prosecutions, data maintenance, timely generation of international cooperation requests, prompt inter-agency coordination and effective feedback mechanisms,” a senior FIA official told Dawn on Tuesday. According to the official, FIA Director General Dr Usman Anwar has instructed all zones and specialised wings to set up FATF desks within seven days, to ensure full compliance with international standards and avoid any deficiencies during the country’s assessment, expected in the last quarter of 2027. The FIA chief has also directed that each desk be headed by an officer of at least Assistant Director rank. Pakistan was put on the enhanced monitoring list (grey list) in August 2018 by FATF. After demonstrating significant improvement against a 27-point action plan regarding technical compliance and effectiveness, it was removed from the grey list in October 2022. The country’s exit from the grey list helped improve its standing with international financial watchdogs and investor confidence. It also supported broader economic engagements, including negotiations with the International Monetary Fund (IMF). “Domestically, it also improved the effectiveness of regulations, law enforcement and capacity of regulators and law enforcement agencies (LEAs) in CFT and money laundering,” the official said. The official said in 2021, the FATF secretariat was established at the Anti-Money Laundering Directorate o