Govt establishes directorate to curb currency smuggling

ISLAMABAD: The federal government has established a directorate to curb smuggling of foreign currency, according to a notification issued Thursday.

The Directorate of Cross-border Currency Movement would function under the Customs Intelligence.

It would prepare reports pertaining to suspicious transactions and smuggling of currency, the notification said.

The constitution of the directorate came after Financial Action Task Force asked the government to take measures to prevent currency smuggling, sources informed Geo News.

The directorate would also be investigating money laundering cases and present its report to the Financial Monitoring Unit (FMU).