ISLAMABAD: National Accountability Bureau (NAB) Chairman Lt-Gen Nazir Ahmed (Retd) on Thursday termed money laundering a major threat to the country’s economic stability and good governance, stressing the need for greater coordination among key institutions to combat what he called “sophisticated financial crimes”.
Speaking at a one-day orientation session on the anti-money laundering (AML) framework and investigation mechanisms for judges of the district judiciary, he said investigators, prosecutors, financial institutions and the judiciary must work in close coordination to tackle increasingly sophisticated financial crimes.
The orientation session was organised by the Pakistan Anti-Corruption Academy (PACA) to enhance judicial understanding of Pakistan’s anti-money laundering regime and strengthen institutional coordination in its implementation.
Reaffirming NAB’s commitment to combating financial crimes, the chairman said the bureau was focusing on professional excellence and the adoption of modern technologies to improve investigations into complex money-laundering cases, according to an official statement issued here.
Justice Inaam Ameen Minhas of the Islamabad High Court (IHC) appreciated PACA for organising the session, saying continuous training and knowledge-sharing were essential to equip judges with the expertise required to deal with evolving financial crimes.
Deputy Chairman Sohail Nasir, while interacting with the participants, provided an in-depth analysis of the Anti-Money Laundering Act (AMLA), 2010. He detailed the roles of various law enforcement agencies and highlighted common money laundering typologies, including trade-based laundering, shell companies, and the misuse of cryptocurrencies.
Nasir further elaborated on the extensive powers of the courts regarding the attachment, seizure, and forfeiture of assets derived from criminal activities.
Muhammad Tahir, Director General (DG) of the Special Investigation Division (SID), NAB, discussed the evolution of the global AML framework, including the roles of the Financial Action Task Force (FATF) and the United Nations Convention against Corruption (UNCAC).
Noor us Sahar, Master Trainer from the Financial Monitoring Unit (FMU), detailed the operational role of Pakistan’s Financial Intelligence Unit. She explained the importance of Suspicious Transaction Reports (STRs) and the AML platform in detecting and preventing financial crimes, emphasizing how intelligence-led investigations support successful prosecutions.
Copyright Business Recorder, 2026