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FATF strategic initiatives & Pakistan

The fourth, three-day plenary session of the Financial Action Task Force (FATF) concluded on October 27, 2023, with delegates from more than 200 jurisdictions that addressed prominent issues related to…

Devastating effects of drug abuse

June 26 marks the International Day against drug abuse and illicit trafficking. The theme for 2023 is “People first: stop stigma and discrimination, strengthen prevention”. According to the United Nations…

The price of a dream

The UNODC defines human trafficking as “the recruitment, transportation, transfer, harbouring or receipt of people through force, fraud or deception, with the aim of exploiting them for profit.” The recent…

Terrorism and drug trade

Today (June 26, 2023) marks the International Day against Drug Abuse and Illicit Trafficking. This worldwide observance was decided by the UNGA in 1987 to raise the level of awareness…

Countering illicit financial flows

The illicit movement of funds is a global challenge, threatening domestic and international financial systems. The United Nations Office on Drugs and Crimes (UNODC) has recently highlighted that the total…

‘Beneficial Owner’

“Beneficial owner refers to the natural person(s) who ultimately owns or controls a customer and/or the natural person on whose behalf a transaction is being conducted. It also includes those…

Laws, protocols and trafficking

Every country in the world is affected by human trafficking either as a point of origin, transit or destination, and Pakistan is not an exception. The UNODC describes human trafficking…

Exit from FATF ‘grey list’

“The FATF welcomes Pakistan’s significant progress in improving its AML/CFT regime. Pakistan has strengthened the effectiveness of its AML/CFT regime and addressed technical deficiencies to meet the commitments of its…

Recovery of stolen assets

The global institutions in collaboration with the United Nations Office on Drugs and Crimes (UNODC) are working with developing countries and financial centers to stop the laundering of proceeds generated…