Pakistan's AML and CFT regime assessing strategies, challenges and future direction in the evolving financial crime landscape /
Pakistan’s Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) framework has undergone significant reforms in response to international pressures, particularly from the Financial Action Task Force (FATF). The country’s inclusion on the FATF grey list from 2008 to 2022 expose...
Elmentve itt :
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| Dokumentumtípus: | Cikk |
| Megjelent: |
2025
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| Sorozat: | INTERNATIONAL JOURNAL OF SOCIAL SCIENCES BULLETIN
3 No. 8 |
| Tárgyszavak: | |
| doi: | 10.5281/zenodo.16900393 |
| mtmt: | 36297702 |
| Online Access: | http://publicatio.bibl.u-szeged.hu/37529 |
| Tartalmi kivonat: | Pakistan’s Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) framework has undergone significant reforms in response to international pressures, particularly from the Financial Action Task Force (FATF). The country’s inclusion on the FATF grey list from 2008 to 2022 exposed persistent deficiencies within Pakistan’s AML and CFT systems, prompting a series of substantial reforms. Despite these efforts, financial crime rates have remained unchanged, indicating the gap remains between symbolic compliance, such as passing laws, and the substantive reforms needed for rigorous enforcement and effective crime prevention. The lack of inter-agency coordination, resource constraints, and ineffective data management systems exacerbate this gap, creating vulnerabilities in the fight against money laundering (ML) and terrorism financing (TF). This study aims to evaluate the effectiveness of Pakistan’s AML and CFT frameworks and propose strategies for their enhancement. It focuses on identifying the structural, legislative, and operational deficiencies that hinder the country’s progress in combating financial crime and aligning with international standards.The research employs a doctrinal analysis, reviewing the current legal framework and secondary legislative measures, coupled with qualitative content analysis of FATF evaluation reports, legal documents, and relevant academic papers. The study highlights key barriers, including fragmented inter-agency coordination, resource limitations, and ineffective data management. Furthermore, the lack of specialized legal provisions and outdated enforcement technologies exacerbates these issues, contributing to Pakistan’s continued vulnerability to illicit financial activities. To address these deficiencies the study offers actionable recommendations to strengthen Pakistan’s response to the complexities of ML and TF, enhancing its position in the global fight against illicit activities and making them more resilient to the evolving landscape of financial crime. |
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| Terjedelem/Fizikai jellemzők: | 702-719 |
| ISSN: | 3007-1909 |