Anti-Money Laundering, Combating Financing of Terrorism guidelines issued - Pakistan News Digest

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Anti-Money Laundering, Combating Financing of Terrorism guidelines issued

Anti-Money Laundering and Combating Financing of Terrorism guidelines have been issued recently to facilitate Non-Profit Organisations and mitigate the money laundering and terror financing risks and other abuses.

In this regard, National Counter Terrorism Authority and Security Exchange Commission of Pakistan had arranged an awareness session to sensitize NPOs with regulatory framework on anti-money laundering and countering financing of terrorism.

The aim of session was to sensitize NPO sector with the recommendations of Financial Action Task Force and the best practices that companies may adopt to help prevent abuse arising from money laundering, terrorist financing and other predicate offences.

The recommendations of Financial Action Task Force require countries to work with NPOs to develop and refine best practices to address terrorist financing risks and vulnerabilities to protect from TF abuse.

Source: Radio Pakistan

   

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