AML / Compliance
Wall Street Exchange Company (Pvt) Ltd., is focused to give priority to keep high working system and operational mechanism CLEAN ensuring not to be used for unlawful transaction also to AVOID misuse of internal system. In order to highlight GUIDELINES related to DUE DILIGENCE (ANTI Money Laundering Definition, Prevention Procedures, Policy, KYC, Staff Training and Record keeping) papers being provided to staff members TO BE AWARE OF THEIR RESPONSIBILITIES TO COUNTER UN-LAWFUL TRANSACTIONS in line with FATF Recommendations and SBP rules and regulations and directives as and when notified.
The Company has defined responsibilities at various levels and Departments given CLEAR Procedure (containing related RESPONSIBILITIES) for day to-day operations controlled by Branch Managers who report to Companys Management and discuss for further guidelines.In accordance with the International legal requirements and standards, it is required to give greater attention to Money Laundering issue. It is extremely important to ensure that monies earned through illegal activities are not run into financial system in the country. Large amount of criminal money is derived from sale of Drugs, Arms Tax Evasion and kickbacks In line with SBP rules and FATF Recommendations it is imperative to exercise Due
Diligence in processing financial transactions, failure to prevent money laundering permits criminals to benefit from their actions.