One of the requirements of The Financial Action Task Force (FATF) have been fulfilled recently in Pakistan with the creation of a separate central entity to coordinate and implement regulations on anti-money laundering, countering of financing of terrorism and targeted financial sanctions.
The Authority is to act as a focal point for the FATF and to act as a liaison between national and international bodies on actions with regard to anti-money laundering and counter terrorism financing.
The Authority also has the power to oversee the implementation of all laws and regulations on anti-money laundering.
The Director General of the Authority has bene granted far-reaching powers to call for information from the federal government.
The Authority can also provide recommendations to the Federal Government for the creation of laws and regulations on anti-money laundering.