SECP Opens IBAN Verification for Faster KYC Onboarding

SECP Enables Digital KYC Through IBAN-Based Verification

Copyright protected content copied from PhoneWorld website. The Securities and Exchange Commission of Pakistan (SECP) has introduced IBAN-based digital verification to enable faster and easier onboarding of customers, allowing investors to access financial services without unnecessary documentation and repeated verification requirements. To facilitate this digital transformation, the SECP has amended the AML/CFT/CPF Regulations, 2020, allowing R…

SECP Opens IBAN Verification for Faster KYC Onboarding

SECP has enabled IBAN based digital verification to speed up KYC, reduce paperwork and tighten account-level safeguards for regulated firms. The Securities and Exchange Commission of Pakistan has introduced IBAN-based digital verification to speed up customer onboarding and reduce repeated paperwork for regulated financial firms. The move is part of a broader push to modernize the country’s financial system while keeping anti-money laundering an…