Anti money laundering Act: monitoring of Jewelers, real estate agents and accountants under strict regulations

Anti money laundering Act: monitoring of Jewelers, real estate agents and accountants under strict regulations

The Federal Board of Revenue (FBR) on Tuesday issued regulations governing the use of powers to monitor transactions involving jewelry, real estate agents and accountants. The FBR issued SRO 1319 (I) / 2020 on 10…

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Development authorities banned from doing business with unregistered real estate agents

Development authorities banned from doing business with unregistered real estate agents

ISLAMABAD: The government has barred all public and private development authorities from doing business with real estate agents who are not registered under the Anti-Money Laundering (AML) Act. The condition to suspend business with the…

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FBR imposed penalties on real estate agents for not implementing Anti-money laundering regime

FBR imposed penalties on real estate agents for not implementing Anti-money laundering regime

The Federal Board of Revenue (FBR) has intensified offsite and onsite inspections against Designated Non-Financial Businesses and Professions (DNFBPs) and imposed penalties on a large number of real estate agents for not implementing anti-money laundering…

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FATF declares Its Decision on Pakistan’s Grey List Status

FATF declares Its Decision on Pakistan’s Grey List Status

In its recently held hybrid Plenary meeting, the Financial Action Task Force (FATF) has decided to keep Pakistan on the grey list. Pakistan will remain on the grey list till it addresses both items on…

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