Regulatory Alerts2020-09-30
Pakistan Post (AML and CFT) Regulations 2020
These regulations mandate Pakistan Post to implement robust anti-money laundering and counter-financing of terrorism protocols, including comprehensive risk assessment and customer due diligence. The entity must perform identity verification for all customers and beneficial owners, maintain detailed records for at least five years, and enforce targeted financial sanctions by screening against government-issued watchlists. Furthermore, Pakistan Post is required to report suspicious transactions and currency transactions exceeding specified thresholds to the Financial Monitoring Unit to ensure regulatory compliance.
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