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SECP issues revised AML/CFT guidelines for non-profit organisations

ISLAMABAD: Securities and Exchange Commission of Pakistan has issued revised and more elaborative Anti Money Laundering and Counter Financial Terrorism guidelines for Non-Profit Organizations.

According to details, the new guidelines explicitly highlight the consequences of money laundering, terror financing, predicate crimes and other abuses on the NPO sector.

The amended version would provide NPO sector an improved understanding of risks of terrorist financing.

These guidelines also include major findings of Pakistan’s National Inherent Risk Assessment on money laundering and terrorism financing.

The revised Guidelines are being disseminated to provinces and have been placed on SECP’s website www.secp.gov.pk for public access.

Last month, the Securities and Exchange Commission of Pakistan (SECP) had issued a concept paper to introduce the categorization of brokers for addressing the issue of custody of client assets.

The SECP said the commission had been undertaking a reform agenda to revitalize the capital market and promote the expansion of investor base.



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