Overview of money laundering laws after 2020 amendments in Pakistan

Muhammad Fahad Anwar, Qamar Uz Zaman, Rana Umair Ashraf, Syed Iftikhar Ul Hassan and Khurram Abbas

Journal of Money Laundering Control, 2021, vol. 25, issue 1, 195-205

Abstract: Purpose - This paper aims to provide a review of Anti-Money-Laundering (AML) after the latest amendments, i.e. Anti-Money Laundering Act of 2020 in Pakistan. Design/methodology/approach - This paper performs a detailed review of AML and related laws and amendments to record notable changes and improvements in the recent amendments and drew a comparison among these legal amendments. Findings - This paper finds that recent amendments are essential and judiciously crafted to cover the legal clinches, ensuring effective implementation of AML laws and positive expected outcomes for Pakistan. Originality/value - This paper is unique in the context of the ongoing struggle against money laundering (ML) in Pakistan; covering the legal progress of Pakistan regarding ML, corruption and terrorism financing.

Keywords: Anti-money laundering; Law; Corruption; Pakistan; K4; K41; Y10; M48 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-02-2021-0012

DOI: 10.1108/JMLC-02-2021-0012

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