PESHAWAR—The federal government has ordered federal and provincial agencies to freeze all assets linked to terrorism financing. This directive comes as authorities seek to enhance compliance with international financial regulations.
The targeted blocks will cover bank accounts, locker facilities, and securities. Furthermore, the restrictions extend to insurance products, housing plots, properties, and digital assets.
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During a high-level monitoring review, officials demonstrated the operation of a newly developed digital monitoring platform called the 1373 Portal. This platform is specifically designed to improve data sharing and coordination among stakeholders. Under this direct mechanism, the Ministry of Interior and provincial governments will issue immediate notifications of sanctions.
Following these notifications, financial reporting institutions must block transactions and freeze assets immediately. Crucially, they are legally bound to act without serving any prior notice to the sanctioned individuals or organizations. This enforcement footprint also covers any entity operating indirectly under the influence of designated individuals.
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Meanwhile, the State Bank of Pakistan (SBP) and law enforcement agencies have received explicit tasks to expand the scope of these asset-freezing operations continuously.
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To streamline compliance with Financial Action Task Force (FATF) standards, the National Counter Terrorism Authority (NACTA) will coordinate institutional logging. Therefore, financial institutions will receive systematic training to handle these security protocols. This training covers:
- The execution of sanctions screening protocols.
- The interception of suspicious fund movements.
- The filing of Suspicious Transaction Reports (STRs) to competent authorities.
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In addition, the directive mandates that all executing agencies maintain comprehensive, auditable logs of notices issued and assets frozen. They must also document exemptions granted and internal reviews to provide empirical evidence for international regulatory bodies.
Finally, following any asset freeze, enforcement agencies must submit formal compliance reports to the Ministry of Interior and NACTA within a strict deadline
