Pakistan Expands Anti-Money Laundering Powers and Raises Reporting Threshold

On October 27, 2026, the National Executive Committee on Anti-Money Laundering and Countering the Financing of Terrorism approved three significant measures. These measures included recognizing the Pakistan Virtual Assets Regulatory Authority (PVARA) as an AML/CFT regulator. The committee also added maritime piracy to the list of predicate offenses under the Anti-Money Laundering Act, 2010, and raised the currency transaction reporting threshold from Rs2 million to Rs3 million.

The expansion of the anti-money laundering framework represents a necessary response to evolving financial crimes in Pakistan. Making piracy a predicate offense enables investigators to pursue criminal proceeds arising from maritime offenses. However, the overall effectiveness of these statutory powers depends on institutional competence and accountability.