Funding terrorism: Illegal cash flows may be aiding terrorists

Published: January 6, 2014
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FIA unearths evidence of transfer of billions to unnamed accounts in Quetta and Peshawar.

FIA unearths evidence of transfer of billions to unnamed accounts in Quetta and Peshawar.

KARACHI: 

Terrorist groups in the Federally Administered Tribal Areas (Fata) and Balochistan have been receiving billions of rupees each month through banking channels and money exchange companies, sources in Federal Investigation Agency (FIA) have revealed.

These companies in collusion with some bankers have been transferring huge amounts to unnamed bank accounts in Quetta and Peshawar. The FIA has recently found evidence of transfer of billions of rupees to the two cities in the last few months.

According to sources, the FIA made these discoveries during its investigations into the multibillion rupee Trade Development Authority Pakistan (TDAP) scam.

 photo Rs34b_zps530162e6.jpg

Ironically, the Financial Monitoring Unit (FMU) and other institutions, whose task is to curb the illegal business of hundi and hawala, are completely unaware of these dubious transactions, made right under their nose.

If the law enforcers can trace the people receiving billions of rupees through unnamed accounts in Peshawar and Quetta, they will possibly be able to unearth terrorist activities funded by this money.

Sources said that after these startling facts, FIA officials were busy uncovering the huge illegal business of money transfer. After discovering evidence of transfer of Rs1billion to Peshawar and Quetta in the last few months, the FIA has registered nine cases under the Anti-Money Laundering Act and arrested dozens of officials of private banks.

According to sources, a renowned money exchange company has transferred around Rs34billion to Quetta and Peshawar in the last few months through its unnamed accounts. Interestingly, money exchange companies and banks have no information about the senders and receivers of the money.

The FIA has frozen dozens of unnamed accounts in Quetta and Peshawar and issued written notices to their holders. However, as the details submitted for opening the accounts have proven to be incorrect, the FIA has started trying to look for their possible link to terrorist activities.

Published in The Express Tribune, January 6th, 2014.

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Reader Comments (10)

  • Mohsin
    Jan 6, 2014 - 11:34AM

    Will Media do talk shows on this issue or it will closed on print media only ?

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  • walee babr
    Jan 6, 2014 - 12:14PM

    they are busy in appreciating these culprits

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  • Masood Khan
    Jan 6, 2014 - 2:18PM

    Main question shall be from where all this money is coming? Are these funds raised locally or —

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  • Ali S
    Jan 6, 2014 - 5:06PM

    I wonder if there’s any link of this money to Saudi Arabia or the Gulf statesRecommend

  • Syed
    Jan 6, 2014 - 6:00PM

    Thank you Saudis and our Gulf brothers for their generous donations. You are very kind in eliminating over population issue in our country.

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  • Salim
    Jan 6, 2014 - 6:18PM

    Well done FIA!

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  • Jan 6, 2014 - 10:52PM

    The first concern should be to choke out the funding sources for these terrorists organizations. Once that is done, half the battle is won. We support the efforts of Pakistani agencies in focusing on the terrorists organizations’ funding sources and trying to shut them down. No one can deny that the people of the region are sick of terrorism and have rejected them in polls after polls. The terrorists know this as well. It is that time when we all need to work together and choke the terrorists from all sides. The people of the region have suffered enough. They deserve the peace they have longed for.

    Abdul Quddus
    DET- United States Central Command

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  • objective observer
    Jan 6, 2014 - 10:52PM

    Oh now all these revelations at who are funding and hold influence over these groups. A little late isn’t it?

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  • gp65
    Jan 6, 2014 - 11:15PM

    @Masood Khan: It is clearly stated that these funds come from abroad. But does abroad mean India, US and Israel or does it mean Arab states? If you are honest you will pick the right answer rather than the popular one.

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  • Jan 7, 2014 - 12:13AM

    This should not be News. The entire wold knows that its Havala money that funds the terror networks and the illegal drugs and gun trade. This is another legacy Zia ul Haq bequeathed his nation.

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