Overview of money laundering laws after 2020 amendments in Pakistan

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.

Citation

Anwar, M.F., Uz Zaman, Q., Ashraf, R.U., Ul Hassan, S.I. and Abbas, K. (2022), "Overview of money laundering laws after 2020 amendments in Pakistan", Journal of Money Laundering Control, Vol. 25 No. 1, pp. 195-205. https://doi.org/10.1108/JMLC-02-2021-0012