SECP issues new guidebook to tighten financial sanctions rules in Pakistan
The Securities and Exchange Commission of Pakistan released a Targeted Financial Sanctions guidebook on Tuesday to help regulated entities prevent illicit activities.
New compliance steps for banks
The document outlines practical actions that regulated entities must take to meet their obligations. Staff should screen customers and beneficial owners against relevant sanctions lists before opening accounts.
Freezing assets and reporting duties
Entities must freeze funds for designated persons without delay and report matches to authorities within the required time. The guidebook also emphasizes clear internal procedures, regular screening, and proper record-keeping for staff awareness.
Training sessions support framework
This release follows a series of awareness sessions conducted by SECP with the National Counter Terrorism Authority. These efforts aim to strengthen understanding and implementation of the national Anti-Money Laundering framework.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Associated Press of Pakistan
- Dawn
Reported by
2 independent outlets. Headlines as published. Links open the original report.