Anti-money Laundering and Combating the Financing of Terrorism : Pakistan

This assessment of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime of Pakistan is based on the Forty Recommendations 2003 and the Nine Special Recommendations on Terrorist Financing 2001 of the Financial Action Task Force (FATF), and was prepared using the AML/CFT assessment Methodology 2004, as updated in February 2008. The assessors reviewed the institutional framework, the relevant AML/CFT laws, regulations, guidelines and other requirements, and the regulatory and other systems in place to deter and punish money laundering (ML) and the financing of terrorism (FT) through financial institutions and Designated Non-Financial Businesses and Professions (DNFBP). The assessors also examined the capacity, implementation, and effectiveness of all these systems. This report provides a summary of the AML/CFT measures in place in Pakistan at the time of the mission or shortly thereafter (no later than March 26th, 2009). It describes and analyzes those measures, sets out Pakistan levels of compliance with the FATF 40+9 Recommendations, and provides recommendations on how certain aspects of the system could be strengthened.

Bibliographic Details

Main Author:	World Bank
Format:	Other Financial Sector Study biblioteca
Language:	English en_US
Published:	Asia/Pacific Group on Money Laundering and World Bank 2009-07-09
Subjects:	ABUSE, ABUSES, ACCOUNTABILITY, ANTI-CORRUPTION, ANTI-MONEY LAUNDERING, ANTICORRUPTION, ARBITRAGE, ASSET HOLDINGS, ASSET MANAGEMENT, AUDITORS, AUDITS, BALANCE SHEET, BANK ACCOUNTS, BANK LOANS, BANKING INDUSTRY, BANKING LAW, BANKING PRACTICES, BANKING SECTOR, BANKING SECTOR ASSETS, BANKING SERVICES, BANKING SYSTEM, BENEFICIARIES, BRIBERY, BROKER, BROKERS, BUSINESS INVESTMENT, CAPITAL MARKET, CC, CDS, CIVIL SANCTIONS, CODES OF CONDUCT, COLLECTIVE INVESTMENT, COMMERCIAL BANKS, COMMERCIAL LAWS, COMMERCIAL TRANSACTIONS, COMMODITY, COMMON LAW, CONFIDENTIALITY, CONSUMER CREDIT, CONSUMER GOODS, CORPORATE BONDS, CORRUPT, CORRUPT OFFICIALS, CORRUPTION, CORRUPTION ACT, CORRUPTION OFFENCES, CORRUPTION PERCEPTION, CORRUPTION PERCEPTION INDEX, CREDIBILITY, CRIME, CRIMES, CRIMINAL, CRIMINAL ENTERPRISES, CRIMINAL LIABILITY, CRIMINAL SANCTIONS, CRIMINALS, CURRENCY, DEBIT CARDS, DEBT, DEBT INSTRUMENTS, DEMOCRACY, DEPOSITS, DERIVATIVES, DEVELOPMENT FINANCE, DISBURSEMENT, DISBURSEMENTS, DUE DILIGENCE, DUE DILIGENCE REQUIREMENTS, EMBEZZLEMENT, ETHICS, EXCHANGE COMMISSION, EXCHANGE CONTROLS, EXCHANGE RATE, EXPOSURE, EXTRADITION, FEDERAL GOVERNMENT, FIGHT AGAINST CORRUPTION, FINANCE COMPANIES, FINANCES, FINANCIAL COMPANIES, FINANCIAL CRIME, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL INTELLIGENCE, FINANCIAL INTELLIGENCE UNIT, FINANCIAL MARKETS, FINANCIAL SECTOR, FINANCIAL SECTOR ASSESSMENT, FINANCIAL SYSTEMS, FIXED ASSETS, FOREIGN BANKS, FOREIGN CURRENCY, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN FINANCIAL INSTITUTIONS, FOREIGN GOVERNMENTS, FOREIGN INVESTMENT, FORMAL BANKING, FORMAL FINANCIAL SERVICES, FRAUD, FRAUDULENT PRACTICES, FUND MANAGEMENT, FUTURES, GOOD GOVERNANCE, GROSS DOMESTIC PRODUCT, GROWTH RATE, HARMONIZATION, HOLDING, HOUSING FINANCE, IMMOVABLE PROPERTY, INCOME, INCOME TAX, INSURANCE, INSURANCE COMPANIES, INSURANCE INDUSTRY, INSURANCE PENETRATION, INTEGRITY, INTEREST RATE, INTERNAL CONTROLS, INTERNATIONAL COOPERATION, INVESTIGATION, INVESTIGATIONS, INVESTING, INVESTMENT BANKING, INVESTMENT BANKS, ISLAMIC BANKING, ISLAMIC BANKS, ISLAMIC FINANCE, JUDICIAL SYSTEM, JUDICIARY, JURISDICTIONS, JUSTICE, LAW ENFORCEMENT, LEADERSHIP, LEGAL FRAMEWORK, LEGAL SYSTEM, LEGAL SYSTEMS, LIFE INSURANCE, LIFE INSURANCE COMPANIES, LIFE INSURANCE CONTRACTS, LIQUID SECURITIES, LOCAL CURRENCY, LOCAL GOVERNMENT, LOSS OF REVENUE, MARKET CAPITALIZATION, MARKET PARTICIPANTS, MARKET SHARE, MICROFINANCE, MICROFINANCE INSTITUTIONS, MISAPPROPRIATION, MONEY LAUNDERING, MONEY MARKET, MONEY MARKET INSTRUMENTS, MORTGAGE, MORTGAGE CREDIT, MUTUAL FUND, MUTUAL FUNDS, MUTUAL LEGAL ASSISTANCE, NATIONAL SAVINGS, NEGOTIABLE INSTRUMENTS, NONPROFIT ORGANIZATION, OFFENSES, OFFICE HOLDER, OPERATIONAL INDEPENDENCE, OWNERSHIP STRUCTURE, PENALTIES, PENSION, PENSION FUNDS, POLICE, POLICE OFFICER, POLICE OFFICERS, POLITICAL SYSTEM, PORTFOLIO, PORTFOLIO MANAGEMENT, POST BANKS, PRIVATE BANKS, PRIVATE EQUITY, PRIVATE SECTOR BANKS, PROSECUTION, PROSECUTIONS, PROSECUTORS, PROVISION OF FUNDS, PRUDENTIAL REGULATIONS, PUBLIC POLICY, PUBLIC SECTOR COMMERCIAL BANKS, RE-INSURANCE, REAL ESTATE, REAL ESTATE INVESTMENT, REGULATOR, REGULATORS, REGULATORY FRAMEWORK, REGULATORY OVERSIGHT, REGULATORY REQUIREMENTS, REMITTANCE, REMITTANCE SERVICES, REMITTANCES, REMOTE AREAS, ROBBERY, SANCTION, SANCTIONS, SAVINGS, SAVINGS BANK, SECURITIES, SECURITIES EXCHANGE, SECURITIES ISSUES, SECURITIES MARKET, SERVICE DELIVERY, STATE BANK, STOCK EXCHANGE, STOCK EXCHANGES, SUPERVISORY AUTHORITIES, SUPERVISORY POWERS, SUSTAINABLE DEVELOPMENT, TAX LIABILITIES, TECHNICAL ASSISTANCE, TERRORISM, TRADING, TRADITIONAL BANKING, TRANSACTION, TRANSFERABLE SECURITIES, TRANSPARENCY, TREASURY, TRIAL, TRIALS, TRUST DEED, TRUSTEES, TURNOVER, VALUE TRANSFER, VENTURE CAPITAL, VENTURE CAPITAL FUNDS, WIRE TRANSFER,
Online Access:	http://documents.worldbank.org/curated/en/2009/07/16413202/pakistan-mutual-evaluation-report-anti-money-laundering-combating-financing-terrorism http://hdl.handle.net/10986/12243
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