‘Market of Fakes’ in Naples, capital of counterfeits and Camorra
As top brands like Gucci and Prada prepare to report billions in sales this month, luxury fakes on the streets of Naples are also yielding a jaw-dropping cash stream —…
Global conflicts, economic uncertainties
2024 emerged as a comparatively optimistic period in contrast to the challenging preceding years marked by Covid-19 pandemic. In its aftermath, global economy faced significant upheavals, with numerous businesses shutting…
Time to apply for FATF membership
The Financial Action Task Force (FATF) concluded its 5th Plenary presided over by Singaporean President T. Raja Kumar. Delegates from over 200 jurisdictions and international organizations convened in Paris for…
Streamlining the FBR in haste?
We are fast approaching the general elections, scheduled for February 08, 2024. However, the post-election landscape poses daunting politico-economic challenges for the already troubled economy. Concerns about fairness of elections…
AI – the bank of tomorrow
It is 2030. Imagine walking down I.I. Chundrigar Road Karachi. Imagine what will you see? Imagine if banking becomes totally digital. Imagine if branches disappear. Imagine if AI robots looking…
Pakistan: leadership crisis
The primary constituents of economic growth encompass physical capital, infrastructure, human capital, and technology. Pakistan stands among those nations where growth rates have not aligned with its developmental profile for…
New AML/CFT Authority
The series of challenges faced by Pakistan has no end. Besides political and economic hurdles, Pakistan’s most pressing problem is to align itself with global norms in combating money laundering…
Protecting children from cybercrime
Cyber communication has directly or indirectly affected almost all strata of society and all facets of our lives. Now that it is an integral part of our day-to-day socio-economic lives…
Disclosure principles of ‘beneficial ownership’
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.…
FATF: upcoming challenges
The first meeting of the Financial Action Task Force (FATF) after Pakistan’s exit from the list of jurisdictions under increased monitoring (commonly known as the Grey List) was held from…
