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Strengthening AML laws

The volume of suspicious transaction reports submitted by banks and others across key financial centres is said to be growing at 11% per year, with over 2.6 million reports expected…

Funding Terrorism

Funding terrorism

Point six of the National Action Plan calls for the state to choke terrorism financing. Choking funds is not possible without understanding the processes of fundraising, transfers and utilisation of…

Combating Financing Of Terrorism – II

Combating financing of terrorism – II

Appraisal of global and domestic initiatives: Since the tragic event of September 11, 2001, the United States and its allies have been engaged in what they call 'war on terror'…

Combating Financing Of Terrorism – I

Combating financing of terrorism – I

"Pakistan has taken steps towards improving its AML/CFT regime, including by issuing an SRO to increase the maximum monetary sanction for non-compliance with S/RES/1267. However, despite Pakistan's high-level political commitment…

FATF And AML Compliance Requirements

FATF and AML compliance requirements

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…

Between China and the US

DURING his recent official trip to China, President Asif Zardari reaffirmed Pakistan’s commitment to the strategic partnership with that country. In his meetings with Chinese leaders, especially President Xi Jinping, the Pakistani leader…