Pakistan Revenue
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 […]
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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 […]
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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 […]
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The Central Directorate of National Savings (CDNS) has decided to screen all customers of national savings schemes.
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ISLAMABAD: Federal Board of Revenue (FBR) has proposed to make mandatory for jewelers and real estate agents to report suspicious transactions. In this regard the FBR issued draft rules through SRO 1320(I)/2019 to make amendments in Income Tax Rules, 2002. As per the draft rules, the designated persons as jewelers and real estate agents should […]
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KARACHI: Dr. Reza Baqir, Governor State Bank of Pakistan (SBP) on Monday emphasized on putting more effort against money laundering and terrorist financing to ensure that Pakistan is out of grey list in the next meeting of FATF. While inaugurating the conference on Anti-Money Laundering (AML)/ Combating Financing of Terrorism (CFT) and Trade-Based Money Laundering […]
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ISLAMABAD: Financial Action Task Force (FATF) on Friday set a deadline of four months for Pakistan to improve action plan against laundering and terror financing. At a press conference in Paris, France the officials of FATF expressed concerns over implementation of action plan by the Pakistani authorities. FATF strongly urged Pakistan to swiftly complete its […]
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KARACHI: The State Bank of Pakistan (SBP) on Tuesday issued framework for controlling trade based money laundering and terror financing. In order to strengthen trade related Anti Money Laundering/Combating Financing of Terrorism (AML/CFT) regime and restrict possible misuse of banking channel, a comprehensive framework on the subject has been developed and attached herewith. Accordingly, Authorized […]
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KARACHI: Banks shall be required to verify valuation of goods before approving electronic or manual import payment in order to prevent incidents of money laundering and terror financing. According to draft “Framework for Managing Risks of Trade Based Money Laundering, Terrorist Financing and Proliferation Financing” issued by State Bank of Pakistan (SBP) banks shall make […]
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