Upcoming Events

18 Oct
Webinar on Data Storytelling for Finance Professionals
Read More
25 Oct
Seminar on ESG and Sustainability Standards
Read More
26 Oct
ICMA UK Members Annual Get Together 2025
Read More

AML Supervision


Anti-Money Laundering & Combating Financing of Terrorism (AML/ CFT)

Pakistan is required to abide by the "International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation" set forth by the Financial Action Task Force (FATF Recommendations) and is also subject to FATF mutual evaluations on the adoption and implementation of FATF Recommendations.

Pakistan passed the Anti-Money Laundering Act of 2010 (the AML Act) and the Anti-Terrorism Act of 1997 in this regard. The accounting profession is subject to requirements under the AML Act, which calls for AML/CFT regulatory and oversight procedures. The Parliament further amended the AML Act, according to which, the Institute of Cost and Management Accountants of Pakistan (ICMAP) is designated as an AML / CFT Regulatory Authority of its members.

ICMA as an AML / CFT Regulatory Authority has issued “Anti-Money Laundering and Combating Financing of Terrorism Regulations for Cost and Management Accountants Reporting Firms” (the Regulations) under section 6A(2) of the AML Act, 2010.