Pakistan believes that it now complies with all the Financial Action Task Force's 40 recommendations against money-laundering, having passed a new bill through both legislative chambers.

The troubled polyglot jurisdiction's Senate passed the law some time ago and the National Assembly has just rubber-stamped it. Presidential assent may not yet have been given, but the Pakistani constitution calls for his signature – or his decision to return it for further deliberations – within ten days of its passage through both chambers of the Majlis-e-Shoora or Parliament. At any event, the National Assembly's website now lists it as an Act rather than a bill.

The bill/Act is an amendment to the Money Laundering Act 2010 and will become effective as soon as it becomes law. Section 7 (1) now reads: “Every reporting entity will now file with the FMU [the financial monitoring unit] a suspicious transaction report...if it knows...or has reason to suspect that the transaction...(a) involves funds derived from illegal activities...(b) is designed to evade any requirements of this section, (c) has no apparent lawful purpose...(d) involves...funds...linked to...organisations and individuals concerned with terrorism. Provided that suspicious transaction report shall be filed...immediately, but not later than seven working days after forming that suspicion.”