The Chief Executives of all
Exchange Companies &
Exchange Companies of ‘B’ Category
Dear
Sir/Madam,
Reporting of Suspicious Transaction Reports
(STRs)/ Currency Transaction Reports (CTRs) to Financial
Monitoring Unit (FMU) Under AML Act, 2010
Attention
of the Exchange Companies is invited towards compliance
of the regulatory & legal requirements of Anti-Money
Laundering (AML) /Countering Financing of Terrorism (CFT)
regime.
2)
It is reiterated that Exchange Companies, being “Financial
Institutions” under the Anti-Money Laundering Act
2010, are required to submit Suspicious Transaction Reports
(STRs) and Currency Transaction Reports (CTRs) ,as per Section
7 of the AML Act, 2010, to the Financial Monitoring Unit
(FMU). The standard templates for STRs & CTRs are part
of the AML Regulations 2008, issued under the AML Ordinance
2007 and protected under the AML Act, 2010. :
3)
In this respect, Exchange Companies are strongly advised
to meticulously follow the requirements of the law, and
report STRs and CTRs manually or electronically, as per
Section 7 of AML Act, 2010, directly to the Financial Monitoring
Unit located at 2nd Floor, State Bank of Pakistan Building,
I.I. Chundrigar Road, Karachi. The relevant documents may
be accessed at the following links:
A.
STR Form
http://www.fmu.gov.pk/docs/Suspicious_Transaction_Report_Form.pdf
a) STR Guidance Notes (Non-Banking Sector)
http://www.fmu.gov.pk/docs/Guidance_notes_to_Reporting_Entities_(Non_Bank).pdf
B.
CTR Form
http://www.fmu.gov.pk/docs/Currency_Transaction_Report_Form.pdf
a) CTR Guidance Notes
http://www.fmu.gov.pk/docs/CTR_Guidance_Notes.pdf
b)
Observations in CTRs Being Filed by Financial Institution
http://www.fmu.gov.pk/docs/OBSERVATIONS_IN_CTRs_BEING_FILED_BY_FINANCIAL_I
NSTITUTIONS.doc
c)
CTR Threshold – SRO Notification
http://www.fmu.gov.pk/docs/Currenct_Transaction_Report_Notification.PDF
C.
AML Regulations 2008 http://www.fmu.gov.pk/docs/AML_Regulations-2008.pdf
D.
AML Act, 2010
http://www.fmu.gov.pk/docs/laws/AML_ACT_2010.pdf
4)
In case of any enquiry, please contact the office of FMU
at the following:
Phones:
021- 32453160 Ext 106 and 116
Fax
Number: 021-99212512
Email:
[email protected] URL:
www.fmu.gov.pk
5.
It may be clearly noted that Section 33 of the AML Act 2010,
inter alia specifically provides for criminal sanctions
on failure to file above mentioned reports and for providing
false information. Furthermore, in case any EC is found
to be in violation of above legal requirements, a simultaneous
regulatory action shall be initiated against concerned EC
and officials involved as per rules, which may result, among
others, in suspension/ cancellation of licenses of the concerned
company.
Please bring the contents of the above instructions to the
knowledge of all your constituents for strictest compliance.