Pakistan government has seized the bank accounts and taken over the assets of banned outfits, because they were found financing terrorist activities.
Pakistani government informed Asia Pacific Group (APG) of financial action Task force in Sydney on Tuesday.
A delegation recently went to Australia for APG meeting and informed about the outfit company. FATF is an inter-governmental body that is established to fight money laundering, terrorist financing and risks to the international financial system. Pakistan was put on its grey list in June 2017 because of insufficient regulations and policies in the country’s Anti-Money Laundering (AML) and Countering of Terrorist Financing (CTF) sector.
Pakistan and the APG, where Pakistan is a member too, had meeting in Sydney where the first round of talks involved that the actions against the banned outfit brand has been taken that was found involved in supporting terrorist organization financially.