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money laundering

PM Imran gives one week deadline for legislation against money laundering

ISLAMABAD: Prime Minister Imran Khan on Friday gave one week dead line to concerned authorities to finalize a new legislation to effectively deal with the offences related to money laundering. Chairing a high level meeting at his office, PM Imran also directed to further strengthen the existing laws to effectively check hawala hundi and other illegal practices that were negatively impacting the economy of the country. According to a statement released from the ministry, he also approved a package to further incentivize…

Joint monitoring cell set up at airports to check money laundering

ISLAMABAD: The Civil Aviation Authority (CAA) has set up a joint monitoring cell at all airports in the country to fight the menace of money laundering. As per details, the cells have been established at the Jinnah International Airport, Karachi, Allama Iqbal International Airport, Lahore, New Islamabad International Airport, Bacha Khan International Airport, Peshawar and Quetta International Airport. The joint monitoring cells will work towards curbing movement of money through illegal channels. The Airport…

Pakistan, UAE agree to cooperate against transnational crimes including money laundering

ISLAMABAD: Pakistan and the United Arab Emirates (UAE) on Sunday agreed to further strengthen their cooperation to deal with transnational organised crime, including drug trafficking, money laundering and human trafficking. This agreement was made during the meeting between Prime Minister Imran Khan and Crown Prince of Abu Dhabi Sheikh Muhammad bin Zayed Al Nahyan during the former's day-long visit to the UAE. The prime minister was accompanied by a high level delegation comprising Foreign Minister Makhdoom Shah…

Money laundering case: SC orders to shift Anwar Majeed, others to Islamabad

ISLAMABAD: The Supreme Court on Saturday ordered shifting of business tycoon Anwar Majeed and others to Islamabad to conduct ‘independent probe’ in a money laundering case, ARY News reported. All the three accused are currently imprisoned in the money laundering case involving Rs35 billion transferred through fake accounts to three local banks. Hearing the case at the Supreme Court’s Lahore Registry, Chief Justice Mian Saqib Nisar said these people were influential having clout in Karachi. “Let's move them to Islamabad…

FIA questions MQM-P ministers in money laundering case

ISLAMABAD: The Federal Investigation Agency (FIA) on Tuesday questioned two federal ministers belonging to the Muttahida Qaumi Movement-Pakistan (MQM-P) in a money laundering case. According to the details, FIA grilled Federal Minister for Information Technology Khalid Maqbool Siddiqui and Federal Law Minister Farogh Naseem for two hours at its Islamabad office over their alleged involvement in money laundering through MQM’s charity wing Khidmat-e-Khalq Foundation (KKF). The MQM-P ministers appeared before the FIA in a…

JIT given two weeks to submit report about fake accounts

ISLAMABAD: The Supreme Court on Monday directed the Joint Investigation Team (JIT) probing money laundering of more than Rs35 billion through fake accounts to submit its report within two weeks. A three-member bench headed by Chief Justice of Pakistan Mian Saqib Nisar heard the suo motu case related to money laundering of billions of rupees through fake accounts, including the one owned by the PPP’s top leadership. The apex court summoned Abdul Ghani Majeed of the Omni group to appear in person on next hearing. It also…

Money launderers hiding behind Iqama to be nabbed soon: PM’s aide

ISLAMABAD: The government in its ongoing crackdown against corruption cautioned on Monday that all heavyweights laundering money in by using Iqama (foreign work permit) will soon be nabbed, ARY News reported. Addressing a press conference,  Special Assistant to PM on Accountability Shehzad Akbar said, 5.3 billion US dollars have been laundered from Pakistan and more than 5000 fake accounts were used to illegally transfer above $1 billion. Shedding light on how Iqama facilitates the money laundering, Akbar explained…

FIA serves notices to MQM leaders in money laundering case

KARACHI: After getting concrete evidences, the Federal Investigation Agency (FIA) on Tuesday served notices to several Muttahida Qaumi Movement (MQM) leaders, including Khalid Maqbool Siddiqui and Faisal Subzwari, in a money laundering case. According to the details, more than 12 MQM-P activists and leaders have been served notices as FIA found evidences of fake entries in the bank accounts of Khidmat-e-Khalq Foundation (KKF), a charity wing of the MQM. Sources said that FIA counter-terrorism wing found new and…

FIA detects 30 more benami accounts in money laundering scam

PESHAWAR: The Federal Investigation Agency (FIA) has unearthed 30 more benami accounts used in laundering over Rs10 billion. During the ongoing probe into infamous money laundering scam involving Asif Ali Zardari and his aides, FIA officials revealed on Sunday that 30 more benami bank accounts were detected which were operated under the name of eight domestic workers hired by an influential businessman. The salaries of the said workers were between Rs12,000 to Rs15,000, yet transactions up to Rs10 billion had been…

PM Khan seeks China’s support to curb white collar crime

BEIJING: Epitomizing China for alleviating poverty and steering country towards development, Prime Minister (PM) Imran Khan said that Pakistan looks forward to cooperation from its all-weather ally to deal with white collar crimes. Addressing a ceremony in Central Party School on Sunday, PM Khan hailed China's role for always assisting Pakistan in the time of need. "We want to take benefit from China's experiences and aim to strengthen our institutions to subsequently control corruption," Premier Khan said, while…