Jan 29

SECP proposes amendments to AML, CFT regulations to comply FATF recommendations

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has proposed amendments to Anti Money Laundering and Countering Financing of Terrorism Regulations, 2018 as recommended by FATF. The SECP on Wednesday said that the amendments had been proposed to further strengthen SECP’s AML/CFT regime. The proposed amendments elaborate on the Risk Based Approach requiring regulated persons […]

by Mrs. Anjum Shahnawaz

SBP issues procedure for opening bank accounts of politically exposed persons

KARACHI: State Bank of Pakistan (SBP) has issued procedure for opening bank accounts of Politically Exposed Persons (PEPs) and instructed banks to facilitate such persons without compromising due diligence process under anti-money laundering (AML) and counter financing of terrorism (CFT). The central bank on Wednesday said that in order to ensure fair and equitable treatment […]

by Mrs. Anjum Shahnawaz

SECP holds awareness session for NPOs on AML/CFT

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has conducted an awareness session on Anti-Money Laundering (AML)/Counter-Terrorism Financing (CFT) in collaboration with of Institute of Chartered Accountants of Pakistan (ICAP), a statement said on Friday. The SECP said that the awareness session was conducted AML/CFT obligations of non-profit organizations (NPOs) licensed under section 42 of […]

by Faisal Shahnawaz