ISLAMABAD: To further improve the security of electronic filings and company registration process, the Securities and Exchange Commission of Pakistan (SECP) has integrated its eServices with Pakistan Mobile Number Portability (MNP) Database (Guarantee) Limited to verify the cell number of applicants against their CNICs.
The verification of the cell phone number of directors and sponsors of a company will also eliminate the chances of misuse of CNIC or cell number of any individual for fraudulent purposes. Verification of CNICs with NADRA databases is already in practice.
The entire procedure of authentication is based on electronic in its entirety. In the light of the challenges raised by AML and CFT as well, it is an important step.
The SECP has offered the facility of digital submissions of returns since 2008. Ever since then, it has been working relentlessly to develop its ‘eServices’ web platform to ensure the safe and effective delivery of services to businesses and the private sector.