FBR Tightens Money Laundering Checks Across Pakistan

The Federal Board of Revenue (FBR) in Pakistan has strengthened its oversight measures to combat money laundering and terrorist financing activities. The regulatory body has amended the Designated Non-Financial Businesses and Professions (DNFBP) Regulations, 2020, to enhance its monitoring framework for designated DNFBPs. The revised framework empowers the Director General of DNFBPs to oversee designated businesses and professions across the nation.

The FBR has redefined supervisory responsibilities within key cities, including Islamabad, Karachi, Lahore, Quetta, and Khyber Pakhtunkhwa. In Islamabad, the Director General's jurisdiction covers cases under the Large Taxpayer Office, Regional Tax Offices, and Gilgit-Baltistan. In Karachi, supervision extends to cases managed by the Large Taxpayer Office, Corporate Tax Offices, and Regional Tax Offices.

Lahore's supervisory authority encompasses Sialkot, Gujranwala, Faisalabad, Sargodha, Multan, Sahiwal, and Bahawalpur. Quetta's jurisdiction revolves around cases handled by the Regional Tax Office, while Khyber Pakhtunkhwa's supervision covers Peshawar and Abbottabad Regional Tax Offices.

The FBR retains the discretion to assign specific charge supervision to any officer when deemed necessary. This revised arrangement aims to bolster the effectiveness of DNFBP supervision and enforcement through the Anti-Money Laundering Act.