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It is an independent intelligence service department of the Government of Pakistan and primarily responsible for analyzing transactions, money laundering cases, building efforts against the terrorist financing, and all sorts of financial crimes within the jurisdiction of financial laws of Pakistan.
In January 2010, the Kabul office of New Ansari Exchange, Afghanistan's largest hawala money transfer business, was closed following a raid by the Sensitive Investigative Unit, the country's national anti-political corruption unit, allegedly because this company was involved in laundering profits from the illicit opium trade and the moving of ...
Illicit financial flows, in economics, are a form of illegal capital flight that occurs when money is illegally earned, transferred, or spent. This money is intended to disappear from any record in the country of origin, and earnings on the stock of illicit financial flows outside a country generally do not return to the country of origin.
As part of the efforts to combat the criminal offences such as money laundering and terrorist financing, Financial Intelligence Units (FIU) have opted goAML as the most sought-after methodology for providing a comprehensive and insightful intelligence to the respective authorities to make informed decisions including reporting of suspicious transactions reporting mechanism.
An international watchdog said Friday it is removing Pakistan from its so-called “gray list” of countries that do not take full measures to combat money laundering and terrorism financing, a ...
Such funds may be kept hidden and maintained separately from money that is used for legitimate purposes. Slush funds may be employed by government or corporate officials in efforts to pay influential people discreetly in return for preferential treatment, advance information (such as non-public information in financial transactions), and other ...
DUBAI/KARACHI, Pakistan, Feb 19 (Reuters) - The United Arab Emirates' central bank is investigating Pakistan's largest bank to ascertain if it violated anti-money- laundering and terrorism ...
"Ours is the first agriculture university of the subcontinent so we are the trendsetters in this regard and have a specialised mandate. Faisalabad was chosen by our colonial rulers to set up an agriculture university as it was sandwiched between two canals". [1] At independence in 1947, Pakistan was a predominantly agricultural country.