The Asia/Pacific Group on Money Laundering released its second follow-up report on Pakistan’s progress with technically complying with the Financial Action Task Force Recommendations on implementing an anti-money laundering and counterterrorist financing framework.
The State Bank of Pakistan and the Securities Exchange Commission of Pakistan announced amendments made to the Terms of Reference concerning their Joint Task Force on Conglomerates, which aim to further strengthen anti-money laundering and counterterrorist financing supervisory cooperation.
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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.
|Compliant : 7||High : 0|
|Largely Compliant : 24||Substantial : 0|
|Partially Compliant : 7||Moderate : 1|
|Non-Compliant : 2||Low : 10|
|Rank : 28/141|
|Score : 6.3/10|
|Rank : 120/180|
|Score : 32/100|
|Rank : 100/133|
|Score : 55/100|