It is hoped government will keep up its good work to strategically track down crimes by dismantling affiliate networks
LAHORE: As has been reported in newspapers, an anti-money laundering team headed by the State Bank of Pakistan (SBP) is working productively with full vigour and has traced down almost 300 cases of money laundering, including 34 hefty transactions involving suspected terrorists. Almost 6,000 cases were reported to the SBP in the last five years and more than 270 suspects have been arrested and are being investigated on money laundering charges.
Furthermore, the SBP has frozen 200 bank accounts in this regard. The Anti-money Laundering Act passed five years ago and its amendment bill, brought about in 2014, is another praiseworthy effort on the legal side to make the loopholes that allow for money laundering to be addressed. It is hoped that the government will keep up its good work to strategically track down crimes by dismantling affiliate networks facilitating criminals.
Farvat Malik
Published in The Express Tribune, January 18th, 2015.
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