AML CFT built for PVARA licensing.
Pakistan now licenses VASPs. Your AML CFT program is part of the test. We help you pass it.
categories
license
before licensing
What AML CFT controls does a VASP in Pakistan need?
A PVARA-licensed virtual asset service provider needs customer due diligence, sanctions and NACTA screening, PEP checks, risk-based customer scoring, transaction monitoring and STR reporting to the FMU through goAML. FPM AML-CHECK provides each of these controls, and FPM can co-source the compliance function during the sandbox.
UpdatedWhat PVARA checks. How we cover it.
Every control in your application, mapped.
| Control PVARA expects | How FPM AML-CHECK covers it |
|---|---|
| Customer identification and verification | CNIC and passport OCR, passive and active liveness, face match, contactless fingerprint capture, via SDK or API |
| Sanctions and TFS screening | UNSC and NACTA lists refreshed every 24 hours, SROs every 3 hours, plus global sanctions. Ongoing re-screening of the full customer base |
| PEP and adverse media screening | Nine categories of domestic PEPs with associates, FPM reputational risk data, optional global PEPs |
| Risk-based approach | Configurable customer risk model for individuals and entities, with EDD triggers and documented rationale |
| Transaction monitoring | Rules for fiat on-ramp and off-ramp patterns, velocity, pass-through, mule indicators and high-risk counterparties |
| Suspicious transaction reporting | Case files built for your Compliance Officer's STR decision and filing on goAML |
| Record keeping | Screening records and decisions retained for five years with full audit trail |
| Outsourcing disclosure and oversight | A defined service scope, reporting and SLAs your Board can oversee and disclose in the application |
Where VASP risk hits first.
Remote onboarding
No branch. No face to face. Liveness does the work.
Mule and nominee accounts
Borrowed CNICs. Blocked identities. Shared devices.
Fast fiat movement
Deposit, convert, withdraw. All within hours.
Proscribed persons
Schedule IV names under new spellings.
Cross-border exposure
Users and counterparties in high-risk places.
On-chain exposure
Wallet alerts from your analytics, in one case flow.
VASP questions, answered.
Does PVARA require an AML CFT program before licensing?
Yes. An AML CFT compliance program is a licensing requirement. Applicants on the NOC track register with the Financial Monitoring Unit, and KYC and AML controls are assessed even at the sandbox stage.
Who is responsible for AML CFT at a VASP?
The Board. PVARA's licensing framework keeps responsibility for AML CFT/CPF and market integrity controls with the Board, including oversight of any outsourcing.
Does FPM AML-CHECK do on-chain wallet analytics?
FPM AML-CHECK covers the customer side: identity, screening, risk scoring and fiat-side monitoring. Pair it with a blockchain analytics provider for wallet screening. We scope that connection with you.
Can FPM run our AML CFT function during the sandbox?
Yes. Our co-sourcing service supplies the technology, the operations and trained staff, while your Board and Compliance Officer keep accountability.
Preparing a PVARA application?
Talk to us before you submit. Not after.