34
Disclosure of information
Act: Anti-Money Laundering Act 2010
Section Provisions
ACT VII OF 2010 ACT VII OF 2010 ANTI-MONEY LAUNDERING ACT, 2010 An Act to provide for prevention of money laundering [Gazette of Pakistan, Extraordinary, Part I, 27th March 2009] No.F.9 (4)/2010-Legis., dated 27-3-2010.--The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on 26th March, 2010, is hereby published for general information: Whereas, it is expedient to provide for prevention of money laundering combating financing of terrorism and forfeiture of property derived from, or involved in, money laundering or financing of terrorism and for matters connected therewith or incidental thereto; It is hereby enacted as follows:-- 34. Disclosure of information.--(I) The directors, officers, employees and agents of any reporting entity, financial institution, non-financial business or profession or intermediary which report a suspicious transaction or CTR pursuant to this Act or any other authority, are prohibited from disclosing, directly or indirectly, any person involved in the transaction that the transaction has been reported. (2) A violation of the subsection (1) is a criminal offence and shall be punishable by a maximum term of three years imprisonment or a fine which may extend to five hundred thousand rupees or both; (3) Any confidential information furnished by a financial institution, non-financial business and profession, or any other person under or pursuant to the provisions of this Act, shall, as far as possible, be kept confidential by the FMU, investigation agency or officer as the case may be.