Monday, November 30, 2020

AML

FATF will undertake next review of Pakistan’s Progress in October

The Plenary Meeting of Financial Action Task Force (FATF) took place at Orlando, USA, from June 16-21. The meeting reviewed the compliance of a number of countries, including Pakistan with the international standards on Anti-Money Laundering and Counter Financing...

SECP launches investor awareness video series at ‘JamaPunji’ portal

The Securities and Exchange Commission of Pakistan (SECP) has launched its first investor awareness video series, based on seven themes: capital market, commodities market, Islamic finance, insurance, mutual funds, anti-money laundering/CFT and company incorporation, through its JamaPunji web portal,...

SECP explains AML/CFT reporting requirements

The Securities and Exchange Commission of Pakistan (SECP) explained that it has rescinded the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) reporting requirements prescribed vide circulars 8, 9 and 10 of 2017 as well as the direction 1...

SECP holds awareness session on implementation of AML/CFT regime

As part of its ongoing awareness campaign, the SECP has organized three awareness sessions for the securities/commodities market, insurance/takaful sector and non-banking financial institutions in Karachi. The sectoral experts were also engaged to provide valuable insights and share their experiences...

FATF regulations expensive to enforce and unfair to poor countries

It's high time that Government of Pakistan should set it's priority and choose between Anti Money Laundering (AML) and Documentation of Economy (DOE). The Financial Action Task Force is an inter-governmental body established 1989 by the Ministers of its Member...

SECP holds session on AML, CFT obligations for NPOs

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...

FATF group’s crucial visit of Pakistan’s fate for white listing or more time

A well-informed source confirmed that the high leveled team of Financial Action Task Force (FATF) will arrive Islamabad, capital city of Pakistan on Sunday evening. The FATF group during the stay in Pakistan will review the steps taken by...

SECP issues FAQs on implementation of AML,CFT regime

The Securities and Exchange Commission of Pakistan (SECP) has published frequently asked questions (FAQs) on anti-money laundering/countering financing of terrorism (AML/CFT), providing answers to specific questions. The FAQs provide clarifications on the SECP AML/CFT Regulations, 2018, and on guidelines regarding...

FATF’s another deadline, IMF bailout- Equity market to play in green

It would be interesting to see how market will treat FATF news. FATF has given one more deadline to implement CFT (Counter Terrorism Financing). Simultaneously, appreciated government commitment to eliminate infrastructure of ML (Money Laundering). Importantly, FATF will decide...

SECP holds awareness sessions on AML/CFT obligations

The SECP has conducted a series of five awareness sessions in Karachi, Lahore and Islamabad. The outreach sessions were held to share the findings of the National Terrorism Financing Risk Assessment with the financial institutions regulated by the SECP. These...
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