NAB cell to counter terror financing, money laundering

The National Accountability Bureau (NAB) has established the Anti-Money Laundering and Combating the Financing of Terrorism (AML&CFT) cell to check financial crimes and illegal transfer of resources.

“In order to discourage money laundering, NAB established the Anti-Money Laundering and Combating the Financing of Terrorism (AML&CFT) Cell. This shows the bureau’s commitment and compliance towards the resolution of the international community,” an official press release issued by anti-graft watchdog said.

According to a report by Dawn, the AML&CFT cell would coordinate with the Financial Action Task Force (FATF) Secretariat and stakeholders concerned to curb money laundering and terror financing.

Moreover, the press release stated that “China has also signed an MoU with it to oversee CPEC projects being undertaken in Pakistan”.