Need of Legal, Administrative and Judicial Reforms in Pakistan to Combat Money Laundering and Terrorism Financing: An Analytical Study

Authors

  • Khalil Haider
  • Naureen Akhtar

DOI:

https://doi.org/10.47067/real.v3i1.24

Keywords:

Money Laundering, Terrorism Financing, legal, Administrative, Judicial, Anti-Money Laundering Act, Anti-Money Laundering Act 2020, Anti-Terrorism Act 1997

Abstract

The main objective of this article is to discuss, review and analyze money laundering and terrorism financing simultaneously as both share common incentives, line of action and executing strategies. Money laundering and financing of terrorism are global problems which not only threaten security but also compromise the stability, transparency and efficiency of financial systems, thus undermining economic prosperity and peace of a country. This research defines and expounds the terms ‘money laundering’ and ‘terrorism financing’, and common strategies to execute both of these criminal activities. It also analyzes the current predicament of legal, administrative and judicial skeleton of Pakistan which makes the country more vulnerable to money laundering and terrorism financing. Furthermore, it would also provide its readers with the most needed reforms in the all-over blueprint of the country, and imperative amendments to make the Anti-money Laundering Act, 2010 and the Anti-terrorism Act, 1997 more efficacious to encounter money laundering and terrorism financing in one fell swoop.

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Published

2020-06-30

How to Cite

Haider , K. ., & Akhtar, N. . (2020). Need of Legal, Administrative and Judicial Reforms in Pakistan to Combat Money Laundering and Terrorism Financing: An Analytical Study. Review of Education, Administration & Law, 3(1), 91-100. https://doi.org/10.47067/real.v3i1.24