NIBAF AML & CFT case studies
NIBAF AML & CFT · Put your knowledge to work in context.
The NIBAF AML & CFT certification is a professional credential for banking and financial-sector staff in Pakistan who need working command of anti-money-laundering and counter-terrorist-financing compliance. It is aimed at compliance officers, branch and operations managers, relationship managers, internal auditors, and staff in remittance, trade finance, and branch banking roles with customer-facing or reporting duties. The NIBAF AML & CFT case studies are 5 cases and about 3,492 words.
1Three deposits just under the reporting line
At a Lahore branch of a mid-sized Pakistani bank, the relationship manager for Rashid Traders, a sole proprietorship that imports packaging material, notices three cash deposits within nine days: PKR 1.85 million, PKR 1.90 million and PKR 1.75 million. Each was made at a different branch and each sits just below the PKR 2 million threshold used for currency transaction reporting.
895 words, about 4 min2The shareholder is a company, the owner is a trust
A corporate onboarding team receives an application from Zayn Logistics (Pvt) Ltd, a Pakistani freight forwarder. Its submitted constitution shows 60% of shares held by Falcon Holdings Ltd, a company registered in a UAE free zone, and 40% held by three Pakistani individuals, each with 13.33%.
698 words, about 3 min3A screening hit at 16:55 on a Friday
At 16:55 on a Friday, a bank's automated screening tool generates a hit: existing customer Ali Hassan, a 62-year-old retired schoolteacher, matches 87% to a name on the UNSC consolidated sanctions list. The listed person is 41 years old and resident in another country; the customer has been with the bank for eight years and receives a pension.
696 words, about 3 min4Compliance reports to the CFO
At a mid-sized Pakistani bank, the head of compliance reports to the chief financial officer, not the CEO or board. The board's AML/CFT agenda item lasts ten minutes each quarter.
606 words, about 3 min5Cash, cousins and a corner plot
A registered real estate agent in Islamabad is handling the sale of a commercial plot for PKR 95 million. The buyer, a retired army officer, pays a PKR 4 million cash deposit from a bag and says the rest will come from three bank drafts.
597 words, about 3 min