The Federal Investigation Agency (FIA) has recovered about Rs 1.273 billion from 422 accused in 335 cases of financial crimes in the existing year in obedience with the action plan for the Financial Action Task Force (FATF).
The country has been on the grey list of the FATF since 2018. In its October 2021 meeting, the FATF had recognized “good progress” made by Pakistan, however, remained it on the grey list and called upon the government to unveil terror-supporting investigations against and trial of top cadres of UN-designated terror groups.
As said by the FIA statistics, almost 95 cases of financial crimes were listed during December only, comprising those against illegal currency traders and people involved in hundi/ hawala (illegal money transfer business). More than 127 defendants were detained and Rs 201 million and foreign currency equivalent to Rs 89 million were apprehended.
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Meanwhile, the State of Pakistan reported that 32 cases were recorded, as many persons detained and Rs 61 million and foreign currency valued Rs 31.61 million recuperated.
Similarly, 271 cases regarding doubtful bank transactions and against currency exchange companies were registered.
The FIA has recorded hundreds of FIRs throughout its anti-corruption movement and discovered 46 suspects designated in the cases convoluted in money laundering during inquiries. Consequently, more cases of financial crimes were listed under which Rs 208 million was detained.
In the past nine months, the FIA listed 312 FIRs regarding hundi/ hawala, halted suspects, and seized Rs 897 million. After the inquiries, challans against these defendants have been sent to the court.
Furthermore, on the information of the intelligence agencies, 103 cases were recorded, 140 suspects arrested and Rs 530 million in domestic and foreign currency was recovered.
Additionally, FIA Director Waqar Chauhan said in a press meeting that Pakistan stretched collaboration with Interpol and other agencies and enhanced collaboration with respect to keeping a check on foreign properties purchased by Pakistani nationals or arrest of accused tangled in financial crimes. In this respect, over 650 Mutual Legal Assistance appeals have been sent to Interpol this year.