SECP proposes stricter money laundering rules

ISLAMABAD: The Secu­­rities and Exchange Comm­ission of Pakistan has proposed major amend­ments to the AML/CFT/CPF Regula­tions, 2020 to strengthen anti-money laundering safeguards. The changes would enable digital onboarding of investors, introducing IBAN-based verification, mandatory use of verified bank accounts/e-­wallets, and multi-biometric auth­en­­ti­cation. Under the proposed framework, IBAN verification through SECP-notified entities, including the Natio­nal Clearing Company of Pakis­tan Ltd via Raast, will be accepted as valid proof of identity, subject to compliance with all AML requirements. Investors will be req­uired to transact only thro­ugh verified bank accounts or e-wallets, impro­ving traceability and reducing the risk of unauthorised transactions. Published in Dawn, April 25th, 2026

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