SBP Moves to Strengthen Controls Against Money Laundering, Terrorist Financing Risks
The State Bank of Pakistan (SBP) has taken a number of steps to strengthen controls against money laundering and terrorist financing risks. These steps include: seo seo Issuing new regulations and guidance for banks and other financial institutions (BFIs). In recent years, the SBP has issued a number of new regulations and guidance for BFIs on how to combat money laundering and terrorist financing. These regulations and guidance cover a wide range of topics, including customer due diligence, transaction monitoring, and reporting suspicious activity. Enhancing its supervisory and enforcement capabilities. The SBP has also enhanced its supervisory and enforcement capabilities in the area of anti-money laundering and combating the financing of terrorism (AML/CFT). This includes increasing the number of staff dedicated to AML/CFT supervision and conducting more on-site inspections of BFIs. Working with other law enforcement agencies. The SBP als...
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