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January 15, 2020

Refinitiv to support NITL

Business

January 15, 2020

KARACHI: National Investment Trust Limited (NITL) has selected World-Check from Refinitiv to support its compliance effectiveness with the Securities and Exchange Commission of Pakistan’s (SECP) Anti-Money Laundering (AML) and Combating Financing Terrorism (CFT) Regulatory Framework.

Refinitiv’s World-Check Risk Intelligence is used by regulated companies to help screen for financial crime risks as part of their anti-money laundering compliance programmes. It delivers accurate and reliable data that assist clients’ in their decision-making processes, a statement said.

It employs hundreds of specialist research analysts across the globe, who adhere to strict research guidelines when gathering information from reliable sources - such as watch lists, government records, and reputable media publications.

NITL Managing Director Adnan Afridi said, “This step marks another milestone for NIT’s vision to ensure effective compliance in line with the SECP AML and Combating Financing Terrorism Regulatory Framework. We are committed to fighting financial crime and will be leveraging our robust technology infrastructure to achieve our compliance vision as we scale our business in a sustainable and responsible manner.”

Refinitiv Middle East and Africa Managing Director Nadim Najjar said, “KYC screening is now a critical process in mitigating financial crime and regulators are placing significant attentions in this area across their policy making agenda.”

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