Islamabad, April 24, 2026 – The Securities and Exchange Commission of Pakistan has unveiled proposed amendments to its Anti-Money Laundering and Counter Financing of Terrorism regulations, aiming to tighten safeguards while enabling seamless digital onboarding for investors.
The draft amendments to the AML/CFT/CPF Regulations, 2020 introduce a series of advanced verification mechanisms, including IBAN-based identity checks, mandatory use of verified financial accounts, and multi-biometric authentication. These measures are designed to enhance transparency, curb illicit financial flows, and align Pakistan’s regulatory framework with global standards.
Under the proposed rules, IBAN verification conducted through SECP-notified entities such as the National Clearing Company of Pakistan Limited via the Raast platform will be recognized as valid proof of identity. Investors will only be allowed to transact through IBAN-verified bank accounts or e-wallets, ensuring improved traceability and minimizing the risk of unauthorized transactions.
In addition, the regulator has proposed a multi-biometric verification system incorporating facial recognition technology linked with the National Database and Registration Authority. This integration is expected to significantly strengthen identity authentication and reduce the possibility of fraud.
Despite the introduction of automated verification systems, SECP has emphasized that regulated persons will remain fully responsible for conducting Know Your Customer (KYC) checks, due diligence, transaction monitoring, and overall AML compliance.
The proposed amendments have been released for public consultation, with stakeholders invited to submit feedback within 14 days. The initiative reflects SECP’s ongoing efforts to modernize Pakistan’s financial ecosystem while ensuring strict compliance with international anti-money laundering standards.