ISLAMABAD Interior Minister Rehman Malik held an urgently called meeting with Director General FIA on Saturday to pinpoint the deficiencies in countering illicit financial transactions and money laundering which put the country in an embarrassing situation. The meeting was held in the wake of a recent development in which the Financial Action Task Force, a key global anticorruption body, had blacklisted eight countries including Pakistan for alleged money laundering and terrorism financing. It was pointed out that further amendments were needed in the existing legislation to counter money laundering and terror financing and in this regard Cabinets approval would be sought. It was also decided that Finance Ministry would be consulted prior to the approval from the Cabinet. The Minister directed all the authorities concerned to take strict action against those element involved in the business of Hundi and Hawala, ways of illegal transaction of money. He directed all the concerned to look into their respected areas of work to immediately take action so that Pakistans name could be removed from the blacklist countries as described by FATF.