ISLAMABAD: The IMF has expressed concern over trade and suspicious transactions and directed the government to take strict measures against money laundering before the budget for the next fiscal year.

According to sources, during the preparations for the budget for the new fiscal year, the IMF has urged the government to take immediate and effective measures against trade-based money laundering.

The IMF has called for curbing money laundering under the guise of trade, addressing loopholes in the exchange of beneficial ownership information, and strengthening financial surveillance.

The international financial institution also expressed concern over the monitoring of suspicious transactions in the banking sector, non-financial businesses, and various sectors, while black money and untaxed investments have also been identified in some sectors.