Regulatory Alerts2024-09-06 | Circular No.01Guidelines for Reporting STR-TBML to FMU
The Financial Monitoring Unit has officially implemented a dedicated STR-TBML reporting form within the goAML system for all entities involved in trade transactions. Reporting entities not previously involved in the pilot program are granted a one-month grace period to update their systems and achieve compliance. Detailed operational instructions and FAQs are provided to ensure the submission of high-quality, standardized trade-based suspicious transaction reports.
FINANCIAL MONITORING UNIT (FMU) GOVERNMENT OF PAKISTAN 2ND FLOOR, SBP MAIN BUILDING, I.I. CHUNDRIGAR ROAD, KARACHI 4400 FMU-Circular No. 01 of 2024 September 06, 2024 To: All Concerned Reporting Entities Instructions Regarding Reporting of TBML Suspicious Transaction Reports In terms of Section 7 of Anti-Money Laundering Act, 2010, Financial Monitoring Unit prescribes the manners for filing of Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs) for the reporting entities. 2. Following the successful completion of pilot phases, FMU has implemented a new reporting form for Trade-Based Money Laundering (TBML) STRs within its goAML system, referred to as "STR-TBML". All entities directly or indirectly involved in facilitating trade transactions are now required to file trade-related suspicious transaction reports using the “STR-TBML” report on goAML. The reporting entities that were not part of the STR-TBML pilot phases are granted a one-month grace period from the date of this circular to understand and amend their systems to implement the necessary changes. 3. To streamline the reporting process and enhance the quality of STR-TBML reports submitted through goAML, detailed step-by-step guidelines are being provided to the reporting entities. These guidelines are enclosed as the " goAML Web User’s Guide for STR-TBML Reporting” and FAQs. 4. The compliance of these guidelines must be ensured by all the reporting entities. Encl: 1. goAML Web User’s Guide for STR-TBML Reporting 2. Frequently Asked Questions for STR-TBML Reporting Yours truly, Sd/- (Sumera Baloch) Additional Director Copy to: The Governor, State Bank of Pakistan (SBP) The Chairman, Securities and Exchange Commission of Pakistan (SECP)