Karachi, November 30 – The Federal Investigation Agency (FIA) has issued a notice branding Chairman Meinhardt Shahzad Naseem and CEO Omar Shahzad, the owners of the Singapore-based construction company Meinhardt, as absconders.
Islamabad, October 4, 2023 – Pakistan’s customs authorities have revealed that they detected money laundering activities worth a staggering Rs 69.5 billion over the past five years.
KARACHI: State Bank of Pakistan (SBP) has warned general public against sale and purchase through illegal operators and transfer of foreign currency through Hawala and Hundi. The SBP informed the general public that a person may unknowingly become part of money laundering and terrorism financing offence by dealing with illegal foreign exchange operators. The money […]
ISLAMABAD: The government has tightened monitoring of investors of national savings to comply with conditions of Financial Action Task Force (FATF) and prevent transactions related to money laundering and terror financing. The Central Directorate of National Savings (CDNS) has prepared a comprehensive plan to examine the customers and issued instructions to all its regional offices […]
ISLAMABAD: Federal Board of Revenue (FBR) has launched action against suspicious transactions to curb money laundering in order to meet the requirement of Financial Action Task Force (FATF).
ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has proposed amendments laws to prevent money laundering through corporate entities. A statement issued on Tuesday said that the SECP has issued a set of notifications, soliciting public consultation on drafts of amendments to the Companies (Incorporation) Regulations, 2017, Companies (General Provisions and Forms) Regulations, 2018, Foreign […]
ISLAMABAD: The ministry of finance has constituted supervisory board to provide independent oversight of implementation of National Savings Schemes (AML and CFT) Rules, 2019. The advisory board has been comprised of: 01. Additional Finance Secretary (Budget): Chairman 02. Syed Jahangir Shah, Director, State Bank of Pakistan: Member 03. Ms. Tanzila Nisar Mirza, Additional Director, Securities […]
ISLAMABAD: Financial Monitoring Unit (FMU) has been allowed to obtain information of taxpayers from tax authorities to check income tax returns and other declarations for money laundering and terror financing. The FMU has been granted access to taxpayers’ data through amendment introduced to Section 216 of the Income Tax Ordinance, 2001. The amendment has been […]
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued orders to microfinance banks (MFBs) to ensure verification of customers in order to mitigate various risks arising from money laundering and financing terrorism. A circular issued by the central bank referred it previous instructions issued through Circular No. 02 dated October 05, 2018 to mitigate various risks […]
ISLAMABAD: The government has draft law to examine involvement of money laundering and terror financing in investment made in national saving schemes. The ministry of finance on Thursday issued draft rules namely National Saving Schemes (AML and CFT) Rules, 2019. Under the draft rules, the Central Directorate of National Savings (CDNS) would conduct customers due […]