ISLAMABAD – Anti-Money Laundering and Combating Financing of Terrorismguidelines have been issued recently to facilitate Non-Profit Organisationsand mitigate the money laundering and terror financing risks and otherabuses.
In this regard, National Counter Terrorism Authority and Security ExchangeCommission of Pakistan had arranged an awareness session to sensitize NPOswith regulatory framework on anti-money laundering and countering financingof terrorism.
The aim of session was to sensitize NPO sector with the recommendations ofFinancial Action Task Force and the best practices that companies may adoptto help prevent abuse arising from money laundering, terrorist financingand other predicate offences.
The recommendations of Financial Action Task Force require countries towork with NPOs to develop and refine best practices to address terroristfinancing risks and vulnerabilities to protect from TF abuse.