PakistanThe Securities and Exchange Commission of Pakistan amended its Anti-Money Laundering and Counter Financing of Terrorism Regulations of 2020 in response to the regulator’s self-assessment of its framework, as well as evaluation by the Financial Action Task Force.
The Gazette of Pakistan published a new law passed by legislators and the president aimed at enhancing the country’s efforts to combat money laundering and terrorist financing.
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The State Bank of Pakistan’s Offsite Supervision and Enforcement Department issued a Rs59,516,000 penalty against the Karachi, Pakistan-based financial institution for violating instructions and regulation related to anti-money laundering and counterterrorist financing.
The State Bank of Pakistan’s Offsite Supervision and Enforcement Department issued a Rs12.8 million penalty against the Karachi, Pakistan-based financial institution for procedural violations of customer due diligence and know your customer requirements.
| Technical | Effectiveness |
|---|---|
| Compliant : 9 | High : 0 |
| Largely Compliant : 29 | Substantial : 0 |
| Partially Compliant : 2 | Moderate : 1 |
| Non-Compliant : 0 | Low : 10 |
A "graylisted" country as of Oct. 19, 2018. Pakistan's technical compliance was re-rated in a follow-up report published on Aug. 2, 2022.
| Rank : 83/110 |
| Score : 6.0/10 |
| Rank : 124/179 |
| Score : 31/100 |
| Rank : 100/133 |
| Score : 55/100 |