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Notably, a leak of knowledge from a number one Swiss financial institution has revealed details about 600 accounts linked to 1400 Pakistani residents. The leaked account holders embody a number of key politicians and generals, together with the ex-ISI chief, Normal Akhtar Abdur Rahman Khan, in line with information from Credit score Suisse, an funding banking agency registered in Switzerland.
Following this, Federal Minister for Data and Broadcasting Chaudhry Fawad Hussain on Monday acknowledged the problems of corruption and cash laundering in Pakistan, The Categorical Tribune reported.
“Panama, Pandora and now the story of Swiss accounts . . . First, steal the [public] cash after which transfer it overseas,” the media outlet quoted him as saying.
Nevertheless, Credit score Suisse’s information leak is just not the primary incident to have triggered a debate on these points in Pakistan. The 2016 Panama Papers, the 2017 Paradise Papers and the 2021 Pandora Papers all make clear the pervasive drawback of corruption and cash laundering within the nation.
In the meantime, busting of the multi-national money-laundering and human trafficking racket run by Pakistanis in Paris has raised critical questions on Pakistan’s written commitments to the anti-terrorist-financing watchdog, Monetary Motion Process Pressure (FATF) which is about to carry its plenary session, mentioned a media report.
There may be appreciable concern {that a} vital a part of funds transferred by this gang would have been utilised by terrorist and extremist teams in Pakistan, which depend on “casual” channels to fund their actions, Geopolitica.information reported.
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