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The Financial Monitoring Unit (FMU) was established under section 6 of the Anti Money Laundering Ordinance-2007 in October  2007.  It  is  the  central  agency  in  Pakistan responsible   for   receiving,   analyzing   and   disseminating   to   the   investigatory   and supervisory   authorities,   disclosures   of   financial   information   concerning   suspected proceeds  of  crime  and  alleged  money  laundering  offences  and  the  financing  of  any activities  or  transactions  related  to  terrorism.  As such, it plays  a  decisive  role  in  the detection and investigation of financial crimes.

In furtherance of its role, FMU collects, processes, analyses and interprets all information disclosed  to  it  and  obtained  by  it  under  the  relevant  enactments;  issues  guidelines  to Financial Institutions/ non-financial businesses and professions (NFBP) on the manner in which suspicious  transactions shall be reported  and  additional  information  supplied  to  the  FMU.  Additionally,  FMU  informs, advises and co-operates with investigating agencies, supervisory authorities and other law enforcement agencies and exchanges information domestically and internationally.

In the medium term, FMU plans to review and consolidate its capacity toward improving
its  operational  efficiency  in  respect  of  data  storage,  retrieval  of  data  and  analytical expertise. Special attention will also be given to training and retention of staff who have acquired specialilsed skills and work culture of an FIU. Furthermore, while the desired confidence  level  exists  among  FMU  and  the  reporting  institutions,  focused  initiatives shall be undertaken to strengthen the partnership through specialized seminars and other training programs.

The long-run strategy of the FMU will flow out of National AML/CFT strategy and the extent of successful acquisition and integration of expertise, capacity resources and the requirements  and  expectations  of  the  stakeholders.  Essentially,  the  strategy  will  look towards  enhancement  of  FMU’s  preventive  role  through  the  preparation  of  strategic reports,  effective  use  of  the  FMU’s  website  and  database  for  deterrence  and  better national  AML/CFT  awareness.  Additionally,  FMU  will  continue  to  play  a  lead  role  in regional and international AML/CFT initiatives.

In  a  nutshell,  a  successful  strategy  for  the  FMU  aims  at  increasing  the  quality  and numbers  of  essentials  input,  i.e.  STRs,  information  on  cash  movements  and  large transactions  and  other  developments  that  help  to  detect  and  analyze  financial  crimes; building  the  necessary  human  and  IT  capabilities  for  its  operations  and  responding effectively to  the  demand  for  its  output  i.e.  substantive  leads  as  well  as  meeting  other requests  for  support  from  domestic  law  enforcement  agencies,  regulators  and  overseas FIUs.

However, developing responses in the context of specific AML/CFT stakeholders within the  agreed  national  strategy  cannot  ignore  that  prevention  of  money  laundering  and terrorist  financing  is  an  endless  exercise.  Techniques  are  fast  evolving,  reflecting  the innovative  and  sophisticated  approaches  of  the  perpetuators  of  financial  crimes  who always  tend  to  remain  one  step  ahead  using  latest  techniques  and  exploration  of  legal ambiguities  and  advances  in  financial  technology.  FMU is keenly aware of needed alertness to the new risks as a crucial factor in national AML/CFT strategy building.


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