KARACHI – FPCCI’s Businessmen Panel on Saturday demanded that theFinancial Action Task Force (FATF) to put India in grey till investigationof money laundering of 44 Indian banks in which amount 1.3 billion dollarswas transferred n over 3000 transcations.
Secretary General (Federal) of the Businessmen Panel, Ch. Ahmad Jawad saidIndia always made troubles for Pakistan with baseless propaganda, now it’stime for world community to take action on the account of thesetransactions which is great concern for us, might be this money usedagainst Pakistan’s instability.
According the details, Data obtained by the International Consortium ofInvestigative Journalism (ICIJ) from suspicious activity reports (SAR)filed by American banks reveal that 44 Indian banks – public, private andforeign – were flagged for these transactions. These could relate toactivities such as money laundering, terrorism and drugs.
Documents also show that Indian banks are listed in SAR related to over2,000 transactions valued at over $1 billion between 2011 and 2017.
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These include several hundred transactions related to Indian entities andbusinessmen where the Indian shippers or recipients have addresses inforeign jurisdictions.
Jawad said FATF’s recommendations and rules should also be followed equallyin India. Besides, an accountable, dynamic, transparent and well-regulatedfinancial architecture driven by the rule of law and financialprofessionalism.
