The key functions of the Directorate General of DNFBPs includes:
| Category | Function |
|---|---|
| Regulatory Framework Development | Formulating, updating, and disseminating AML/CFT regulations, guidelines, and best practices tailored for various DNFBP sectors (e.g., real estate agents, dealers in precious metals/stones and accountants). |
| Registration and Licensing | Establishing and maintaining a comprehensive register of all DNFBPs falling under its jurisdiction and potentially overseeing their licensing in coordination with relevant sectoral regulators. |
| Supervision and Monitoring | Implementing a risk-based approach to conduct regular oversight, including onsite inspections and off-site monitoring to ensure DNFBPs develop and implement effective AML/CFT programs. |
| Compliance Enforcement | Investigating instances of non-compliance, imposing administrative sanctions, and taking enforcement actions, including penalties, fines, or suspension of operations, in accordance with applicable laws. |
| Reporting Oversight | Ensuring DNFBPs fulfill their obligations to report suspicious transactions (STRs) and suspicious activities (SARs) to the Financial Monitoring Unit (FMU). |
| Outreach and Capacity Building | Providing training, workshops, and awareness campaigns to DNFBPs and AML/CFT staff to enhance their understanding of AML/CFT risks and compliance requirements. |
| National and International Coordination | Liaising with the FMU, law enforcement agencies (e.g., FIA, NAB), and sectoral regulators (e.g., SBP, SECP etc.) to share information, coordinate efforts, and ensure Pakistan's compliance with global AML/CFT standards. |
| Risk Assessment | Conducting periodic sector-specific risk assessments to identify emerging money laundering and terrorist financing threats and vulnerabilities within the DNFBP sector. |
| Data Management | Maintaining a robust database of DNFBP information, compliance records, and enforcement actions. |
