FBR uncovers money laundering of Rs 1.40 billion
FBR uncovers money laundering of Rs 1.40 billion
ISLAMABAD (Dunya News) - The Federal Board of Revenue (FBR) has uncovered money laundering worth Rs 1.40 billion, Dunya News reported on Friday.
According to a statement issued by FBR, the Directorate General of Intelligence and Investigation Islamabad took action against a suspect who was providing services under different business names.
According to the statement, the suspect could not give satisfactory answers about various bank transactions and sources of income of Rs 1.1 billion. An accomplice of the suspect has also been found to have made suspicious bank transactions of more than Rs 320 million.
The statement further said that the two persons were working together and had more than 50 domestic and foreign bank accounts, in which suspicious bank transactions of Rs 1.40 billion have taken place.
A complaint has been registered against the two under Section 8 of the Anti-Money Laundering Act 2010. In another operation, 80 cartons of counterfeit and non-duty paid cigarettes were seized during a raid in Peshawar.
