Our defective governance system has rendered the state and nation susceptible to numerous internal and external risks, eroding law and order, undermining the justice system, nurturing corruption, and ultimately jeopardizing…
Pakistan has faced significant challenges in combating terrorism financing due to its complex geopolitical landscape, porous borders, and historical links to extremist groups. Terror financing involves the provision of funds…
It is common practice across the globe that anonymous shell companies are formed to hold funds or conduct financial transactions to disguise money trail of wealth accumulated through illegal activities.…
The international lending agencies are often under criticism that they dole out loans to developing countries while foregoing due diligence of the systems set-up for the transparency of purposeful utilisation…
The real estate sector is an attractive sector for money launderers. They conceal their illegitimate earnings, disguising their identities and laundering funds. Financial Action Task Force (FATF) is considering revision…
Recommendation 18 of the Financial Action Task Force (FATF) requires that financial institutions should implement programmes against money laundering and terrorist financing and that financial groups should implement group-wide programmes…
My previous article, ‘Neoliberalism and poverty’ published in these pages on May 26, 2018, argued that there has been a growing consensus among policymakers to treat poverty as a multidimensional…
Good governance is our battle cry, the stuff that our baleful TV talk shows are made of, the centerpiece of tired conversations in well appointed drawing rooms. At least half…
1. Legal Measures: Criminalization of Offences, Investigations and Prosecutions: FATF recommendations require Criminalization of money laundering through domestic legislation.1 The recommendations also provide to specify the scope of liability in…
There is inherent difference between the character of compliance regarding AML and FATCA, as one is binding on the countries whereas the other will be implemented through mutual treaties/agreements creating…
