Islamabad: The Federal Board of Revenue (FBR) has commenced with the operations at its Directorate General of Designated Non-Financial Business and Professions (DNFBPs) in a bid to curb money laundering/terror financing practices in the country, according to a news report published on November 12.
As per the notification issued by the FBR, the DNFBPs is empowered under the Anti-Money Laundering Act, 2010, to check housing authorities, real estate agents, builders, real estate developers and property dealers, jewellers and gemstone manufactures, lawyers, other legal professionals, notaries, accountants, trusts, and company service providers for transactions aimed at facilitating criminal practices.
According to reports, the taxation agency has announced its decision to maintain complete records of actual beneficiaries of transactions involving immovable and movable properties and flag suspicious undertakings. The mentioned professionals and businesses are directed to get themselves registered with the board and ensure customer due diligence (CDD).
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
