SECP holds workshop on anti-money laundering, terror financing

ISLAMABAD, October 15: The SECP held a full-day workshop on anti-money laundering/countering financing of terrorism (AML/CFT) in Lahore on Monday on the theme of “implementation of risk-based approach within financial institutions.”

After Karachi, the workshop was second in the series. About 150 participants from sectors regulated by the SECP, i.e., securities market, commodities market, insurance/ takaful sector and non-banking financial instructions attended it. Its objective was to bring a higher level of awareness among financial institutions on SECP AML/CFT regulations, 2018, and regulatory expectations. The workshop focused on sharing of best global practices, legislative framework, technological enhancements and streamlining of procedures in order to apply national AML/CFT measures and develop an effective AML/CFT risk assessment and compliance framework.