Pakistan

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Pakistan: FIA traces hoarders of $163 million

Federal Investigation Agency (FIA) on Tuesday traced those involved in hoarding of $163 million in a structured manner. In an attempt to curb rising dollar rate against local currency, the FIA launched a crackdown against those involved in hoarding of dollars. The traders of hawala/hundi have also come under the… Read More

Deutsche Bank, Standard Chartered and Danske Bank Sued Over Afghanistan Dead

Deutsche Bank AG, Standard Chartered Plc and Danske Bank A/S were sued by the families of Americans killed and wounded during the war in Afghanistan who claim they “knowingly facilitated transfers of millions” of dollars that provided aid to terrorists in the region. The banks and two money… Read More

Global Interpol-Led Anti-Trafficking Operation Arrests 286

By Emily Tan, OCCRP, 28th July 2021 OCCRP — An Interpol operation involving 47 countries worldwide rounded up 286 people suspected of being members of human trafficking and migrant smuggling criminal groups and rescued 430 victims, according to a statement released on Monday. Police… Read More
19th July 2021
The Enforcement Directorate on Saturday arrested Shivlal Pabbi, a Dutch national who allegedly ran ‘hawala’ operations in the garb of ready-made garments trade in the Netherlands. The accused got the proceeds of the crime laundered via some Pakistan nationals based in Dubai. Mr. Pabbi was allegedly trying to flee the… Read More
18th July 2021
Once a week Ghulam Ahmed, 38, takes time out from his cryptocurrency consulting business to log into a WhatsApp group with hundreds of members eager to learn how to mine and trade cryptocurrency in Pakistan. From housewives looking to earn a side income to wealthy investors wanting to buy cryptomining… Read More
6th July 2021
Pakistan’s anti-corruption watchdog has established an anti-money laundering and terror financing cell to check financial crimes and illegal transfer of resources as the country struggled to exit from the FATF’s grey list. The Paris-based Financial Action Task Force (FATF) placed Pakistan on the grey list in June 2018 and… Read More
22nd June 2021
By Alessandro Ford, InSight Crime, 18 June 2021 InSight Crime — Ongoing seizures of cocaine trafficked from Brazil to Mozambique continue to highlight the robust drug route between the two former Portuguese colonies, as well as a lesser-known transit region for Europe-bound cocaine. In recent years,… Read More
11th May 2021
The government is set to introduce new rules on forfeiture, management and auction of properties and assets relating to Anti-Money Laundering (AML) cases and transfer of investigations and prosecution of AML cases from police, provincial anti-corruption establishments (ACEs) and other similar agencies to specialised agencies to achieve remaining benchmarks of… Read More
3rd May 2021
The United Kingdom’s decision to add Pakistan to its list of “high-risk countries” for money laundering and terror financing may make it harder for Islamabad to exit the Financial Action Task Force (FATF) “gray list” in June, experts warn. On April 12, the U.K. included Pakistan among 21 countries that… Read More
13th April 2021
The UK government has added Pakistan to the list of undesirable 21 high-risk countries with unsatisfactory money laundering and terrorist financing controls. This list of 21 countries — released by the UK Government — replicates the list of countries named by the Financial Action Task Force (FATF) as high-risk or… Read More
18th March 2021
Pakistan’s anti-graft body on Wednesday reopened a money-laundering investigation against embattled former Prime Minister Nawaz Sharif’s daughter Maryam Nawaz and summoned her on March 26. The National Accountability Bureau (NAB) has accused 47-year-old Maryam of committing money-laundering through investments of variable heavy amounts being the main shareholder of Chaudhry Sugar… Read More
3rd March 2021
Pakistan will have to make further legislation on at least two counts to meet three outstanding benchmarks of the 27-point action plan of the Financial Action Task Force (FATF) before the June deadline. Also, the government will have to submit an updated report within a month… Read More
26th February 2021
Global money laundering watchdog the Financial Action Task Force (FATF) on Thursday said it would keep Pakistan on its terrorism financing “grey list”. FATF had placed Pakistan on its “grey list” of countries with inadequate controls over terrorism financing in 2018, which made foreign firms more cautious about investing in… Read More