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
