Thursday, November 14, 2019

SECP holds session on AML, CFT obligations for NPOs


Trump said: Sondland is great American now President’s famous ‘U-turn’

President Donald Trump has a history of distancing himself from associates who have found themselves in legal trouble or...

Babri mosque: Indian Supreme Court ruled in favor of Hindus in a dispute over a religious position with Muslims

India's Supreme Court on Saturday ruled in favor of a Hindu group in a long-running legal battle over a...

France Visa: New point-based skilled immigrant program to be enforced by summer 2020

France will introduce new point-based skilled immigrant program (France Visa), will come to force by summer 2020. French government...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at He can be reached at: [email protected]

In collaboration with the Institute of Chartered Accountants of Pakistan (ICAP), the Securities and Exchange Commission of Pakistan (SECP) has conducted an awareness session on anti-money laundering/counter-terrorism financing (AML/CFT) obligations of non-profit organizations (NPOs) licensed under section 42 of the Companies Act, 2017, as well as Lahore-based registered intermediaries. Around 100 participants from the NPO sector, registered intermediaries and ICAP members were in attendance.

An SECP official made a detailed presentation on the AML/CFT regulatory requirements as well as the mechanism for implementation of United Nations Sanctions Regime under resolutions 1267 and 1373 for designation of terrorist organizations and individuals. The session focused on the relevant recommendations of the Financial Action Task Force as well as findings of the National Terrorism Financing Risk Assessment, including directions, channels and sources of terror finance, risk assessment of NPOs, and various policy, legislative and administrative measures for terror financing risk mitigation. It also helped participants in improving the understanding of suspicious transaction reporting requirements under the AML/CFT framework.

The session also discussed the regulatory measures contained in the regulations for NPOs and intermediaries to prevent money laundering and terror financing abuses, supplemented by the best practices and recommendations contained in the AML/CFT guidelines for NPOs issued by it. The official emphasized the fact that regulatory action against non-compliant NPOs is a regular feature of the SECP’s enforcement strategy, which will continue in the future.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at He can be reached at: [email protected]

Latest News

Trump’s removal measures: US Poll reveals support for 50 percent of Americans to the House of Representatives

The Politico Foundation released the results of a US Poll in conjunction with Trump's impeachment measures, revealing that 81%...

New UK Guidelines on EU Citizens residence

Britain is threatening to deport EU citizens if they do not apply in time for a new immigration status after Britain leaves the bloc...

US appeals court upholds decision to disclose Trump’s financial records

Trump's financial records: A US appeals court said on Wednesday it would not review an October decision ordering President Donald Trump's accounting firm to...

Ukrainian president offers 10 percent bonus for bribery and corruption reporting

Ukrainian President Volodymyr Zelensky has signed a law to pay 10 percent of confiscated money to those reporting corruption-related crimes to the authorities. The Ukrainian...

Morales condemns US recognition of the new government in Bolivia

Bolivia's former president, Evo Morales on Wednesday denounced the United States' recognition of his country's self-proclaimed "de facto" government since he left the country. The...
- Advertisement -

Related News