ISLAMABAD: As many as 123 cases of money laundering were filed against individuals, companies and cartels during 2010-2016,
This was disclosed by Federal Minister for Interior Ch Nisar Ali Khan during the question hour, in a written reply to the question by MQM’s Col (R) Syed Tahir Hussain Mashhadi in Senate.
The Federal Investigation Agency (FIA) unearthed such cases and found maximum 82 cases in Lahore, 32 in Multan and nine in Karachi, the accused include involved illegal business of hundi and hawala, foreign currency exchange, prize bonds, overseas promoters, bankers, jewellers and car showrooms.
The minister explained the series of measures taken to arrest the trend of money laundering, which included designation of four agencies i.e. FIA, NAB, ANF and FBR with their distinct mandate/jurisdiction to conduct investigation and prosecution of money laundering cases, constitution of the National Executive Committee and General Committee under AML Act, 2010 to oversee Anti-Money Laundering, Combating Financing of Terrorism Regime, enhanced international cooperation, introduction of declaratory regime for physical movement of currency and bearer negotiable instruments, revision of currency transaction report threshold to Rs2 million and maximum coverage of predicate offences in terms of international standards.
