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FBR recovered Rs 6.6bn during money laundering probe, PM told

ISLAMABAD: Prime Minister Imran Khan on Monday chaired a key meeting to review measures for curbing money laundering and reiterated those involved in the illegal practice did not deserve any concession, ARY News reported.

Finance Minister Asad Umar, PM’s special assistant Shehzad Akbar, Iftikhar Durrani, Governor State Bank Tariq Bajwa, secretary interior, director general Federal Investigation Authority (FIA), chairman Federal Board of Revenue (FBR) and other officials attended the meeting.

SBP governor briefed PM Khan that about 247 million rupees fine had been imposed on different banks due to fake accounts while investigation against 109 officers was in progress in the same matter.

The meeting was also informed that hurdles were being removed for Afghan migrants from opening bank accounts in Pakistan.

Read More: FATF acknowledges Pakistan’s anti-money laundering steps, urges further quick steps

The PM was informed that 8,707 suspicious transactions were detected last year whereas the FBR conducted a probe of more than 500 cases and recovered Rs 6.6 billion.

Customs officials informed that the department from July 2018 to January 2019 recovered illegal foreign currency worth Rs. 439 million.

The prime minister at this occasion said that money laundering was an evil which caused an irreparable loss to the country economy.

The Prime Minister was informed that memoranda of understanding are being signed with UK, Australia, UAE, and Qatar to enhance information in financial intelligence sharing.

Prime Minister Imran Khan while addressing the meeting said that the elements involved in money laundering do not deserve any concession and their reality should be exposed before the nation.

He directed to activate financial monitoring units across the country further.



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