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Gaps in anti-laundering efforts: IMF
4 Articles
4 Articles
Gaps in anti-laundering efforts: IMF
The International Monetary Fund (IMF) has observed that Pakistan is not effectively using data on the ultimate real owners of companies, creating hurdles in disrupting corruption-related laundering schemes and checking front companies from securing government contracts. The global lender's draft report on the Governance and Corruption Diagnostic Assessment revealed major flaws in the effective implementation of the country's beneficial ownership…
The IMF says that Pakistan has not been able to stop money laundering and the system of beneficial owners of companies also suffers from major flaws. Data on beneficial owners is not being exchanged effectively between institutions. According to sources, the IMF’s report on governance and corruption will be released this month, the draft of which has been sent to the government so that it can consider suggestions and observations. The report sta…
Pakistan fails to effectively curb money laundering, says IMF
Islamabad: The International Monetary Fund (IMF) has expressed serious concerns over Pakistan’s failure to effectively prevent money laundering schemes. In a forthcoming report, the global lender highlights major flaws in the country’s financial transparency and regulatory systems. According to sources, the IMF has completed its Governance and Corruption Diagnostic Assessment Report, which is expected to be released later this month. A draft of …
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