SECP tells intermediaries to ensure AML/CFT due diligence

ISLAMABAD, December 18. In the light of recommendations made by Financial Action Task Force (FATF), an intergovernmental body formed to coordinate efforts on anti-money laundering and countering financing of terrorism (AML/CFT), the Securities and Exchange Commission of Pakistan (SECP) has amended the Intermediaries (Registration) Regulations, 2017. The Anti-Money Laundering Act, 2010, places compliance obligations on the company service providers (intermediaries) to conduct customer due diligence and report suspicious transactions to Financial Monitoring Unit. The amended regulations will require compliance by the intermediaries with the AML/CFT regime.