The purpose of this paper is to examine the effectiveness of anti-money laundering/combating of financing of terrorism (AML/CFT) measures in Pakistan. Key variables of AML/CFT regulations of Pakistan are used. This study explores the impact of customer due diligence, record keeping, wire transfers, correspondent banking, reporting of transactions, new technology and internal controls/compliance/trainings on money-laundering risk.,Data is collected with the help of questionnaires developed in light of Financial Actions Task Force (FATF) recommendations and the AML/CFT regulations of Pakistan.,Results show that customer due diligence, correspondent banking and new technology may help control money-laundering risk in Pakistan, whereas impact of record keeping, wire transfers and reporting of transactions did not have an effect on money-laundering risk. This study suggests a better implementation of these measures.,The current study was limited to Pakistani banks. For more conclusive results, future studies should replicate similar studies in other countries.,Findings of this study may help the State Bank of Pakistan in taking measures to simplify the process of implementing FATF rules and regulations regarding AML/CFT, regular monitoring and trainings to the staff of banks and development finance institutions in customer due diligence, correspondent banking and new technology. Further, it helps to take appropriate measures in resolving banks-specific issues related to AML/CFT.,Effective AML/CFT control measures would strengthen socio-economic growth in a country. Further, formalization, compliance and integrity would eliminate money laundering risk. It would create an economy that works with equity and promotes transparency.,This research paper supports implementation of AML/CFT regulations, proper monitoring and novel supervision of banks.

中文翻译：

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巴基斯坦的洗钱风险和预防措施

本文的目的是检验巴基斯坦反洗钱/打击资助恐怖主义行为（AML / CFT）措施的有效性。使用巴基斯坦的AML / CFT法规的关键变量。这项研究探索了客户尽职调查，记录保存，电汇，代理银行业务，交易报告，新技术和内部控制/合规性/培训对洗钱风险的影响。借助调查问卷收集数据巴基斯坦金融行动特别工作组（FATF）的建议和AML / CFT法规。结果表明，客户尽职调查，代理银行业务和新技术可能有助于控制巴基斯坦的洗钱风险，而保留记录的影响则是，电汇和交易报告对洗钱风险没有影响。这项研究表明可以更好地实施这些措施。目前的研究仅限于巴基斯坦的银行。为了获得更具决定性的结果，未来的研究应在其他国家或地区重复进行类似的研究。该研究的结果可能有助于巴基斯坦国家银行采取措施，简化有关反洗钱/打击资助恐怖主义活动的FATF规则和规定的实施流程，并定期进行监测和培训。银行和发展金融机构的员工进行客户尽职调查，代理银行业务和新技术。此外，它有助于采取适当措施解决与反洗钱/打击资助恐怖主义有关的银行特定问题。有效的反洗钱/打击资助恐怖主义的控制措施将加强一个国家的社会经济增长。此外，形式化 合规和诚信将消除洗钱风险。该研究论文支持反洗钱/反恐怖融资法规的实施，适当的监管和对银行的新颖监管。