Federal Board of Revenue (FBR) has clarified that it is making all out efforts in ensuring compliance of Financial Action Task Force (FATF) regulations in cases of DNFBPs (Designated Non-Financial Business or Professions), in letter and spirit, and is also fighting the menace of money laundering, by all means possible.
Clarifying a news item published in a section of press, the FBR stated that the comments made by Chairman FBR about talks with FATF have been misconstrued and not properly comprehended in their true spirit.
A statement issued by the Board also cleared its position about a news item captioned “Fake CNICs sore point in FATF talks” appearing in a section of press on March 14, 2022 saying it was quoted out of context.
“While addressing the business community at Lahore Chamber of Commerce and Industry (LCCI) on March 13 (Sunday), Chairman FBR had expressed his concerns about non-compliance by majority of businesses with regard to furnishing CNICs of individuals making purchases worth Rs100,000 or above, as required by law,” the statement added.
The issue highlighted in the said meeting with business community at Lahore Chambers actually referred to factitious identity and fake entries being recorded by businesses. These remarks, by no means, related to issuance of CNICs by NADRA, it added.