Trends - MONEY LAUNDERING - Business Recorder

MONEY LAUNDERING

Senate elections: PPP expresses reservations over schedule

ISLAMABAD: The Pakistan Peoples Party (PPP) on Friday, while expressing its reservations over the schedule for the...

Published 13 Feb, 2021 04:11am

Violations of AML/ CFT/CPF regulations: FIs allowed to file pleas within 120 days of sanctions

KARACHI: The State Bank of Pakistan (SBP) has allowed financial institutions for filing of appeal within 120 days of...

Published 13 Feb, 2021 04:11am

Pakistan

Govt determined to stop cycle of corruption in Senate elections: PM

This is what the PDM cabal wants to now protect by supporting a corruption-friendly system.

Published 09 Feb, 2021 11:56pm

Pakistan

NAB asks court to withdraw stay granted to Shehbaz’s wife

LAHORE: The National Accountability Bureau (NAB) in its reply to a petition of Nusrat Shehbaz, wife of Leader of...

Updated 07 Feb, 2021 10:09am

Pakistan

LHC bench to take up bail plea of Hamza today

LAHORE: A division bench of the Lahore High Court headed by Justice Sardar Sarfraz Dogar would take up a bail...

Published 03 Feb, 2021 04:35am

Pakistan

Occasional customers: SECP for further tightening of due diligence requirements

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has directed stock market brokers, futures...

Updated 01 Feb, 2021 09:08am

British court orders to extradite Naqvi to US

LONDON: British court on Thursday ordered to extradite Abraaj group founder Arif Naqvi to the US over charges of...

Published 29 Jan, 2021 04:55am

Pakistan

AC postpones hearing of mega money laundering, Park Lane cases till today

ISLAMABAD: The Accountability Court Islamabad hearing multi-billion rupees fake bank accounts case on Wednesday...

Updated 28 Jan, 2021 09:37am

Pakistan

Broadsheet scandal: Cabinet approves formation of inquiry commission to hold investigation

A former Supreme Court judge will head the commission that will be mandated to carry out a comprehensive investigation into the Broadsheet scandal
The commission will re-investigate cases involving bigwigs, which were closed out of expediency

Published 26 Jan, 2021 02:12pm

Pakistan

NAB has 'solid evidence' of money-laundering by 'big fish', says Iqbal

NAB chairperson says solid evidence of billions of rupees money-laundering are available, which were laundered by opening fake accounts
NAB had so far recovered Rs714 billion since its inception while 1,243 corruption cases, having accumulative corruption volume of Rs943 billion, are under trial: Iqbal

Published 25 Jan, 2021 11:21am

Pakistan

Passing oil prices impact unavoidable to avert further debt burden: PM

He said the devaluation of rupee impacted the prices of petroleum products, pulses, ghee and other imported items raising the inflation rate.

Published 22 Jan, 2021 11:49pm

Pakistan

LHC restrains NAB from taking coercive measures against Nusrat

LAHORE: The Lahore High Court on Wednesday restrained the National Accountability Bureau (NAB) from taking coercive...

Published 21 Jan, 2021 04:23am

Pakistan

Granting NRO to politicians involved in corruption ‘a criminal offense’: SAPM

Prime Minister Imran Khan, he said an honest leader of the country, and he would never grant NRO to any party leader facing corruption and money laundering cases.

Published 14 Jan, 2021 11:38pm

Pakistan

Park Lane, money laundering references adjourned till Jan 21

AC-II Judge Muhammad Azam Khan heard the graft references connected with fake accounts scam filed by NAB.

Published 14 Jan, 2021 07:31pm

Pakistan

Broadsheet revelations exposed massive scale corruption of ruling elites, says PM

Imran says these elites cannot hide behind victimisation card on these international revelations
The corrupt mafia do money laundering to stash their ill-gotten gains abroad, safe from domestic prosecution: Imran

Published 13 Jan, 2021 11:44am

Pakistan

Mega money laundering case: AC records statement of prosecution witness

ISLAMABAD: The Accountability Court Islamabad on Wednesday recorded the statement of prosecution witness who ...

Published 07 Jan, 2021 03:15am

World

London's Luxury Homes are a Prime Target to hide 'Dirty Money': Report

The property market in the United Kingdom is increasingly becoming a prime target for money laundering, with London's most expensive property attracting criminal buyers from the around the world to hide ill-gotten wealth.
The onset of the coronavirus pandemic has only made the real estate sector more vulnerable to dirty money, as the dwindling demand for expensive and extravagant homes makes it more susceptible to exploitation from criminal entities.

Updated 24 Dec, 2020 05:24pm

Pakistan

Opposition trying to weaken NAB to get relief from corruption cases: SAPM

He made it clear that Prime Minister Imran Khan would never compromise with leaders of the political parties involved in corruption and money laundering cases.

Published 22 Dec, 2020 01:01am

Pakistan

Money laundering case: FIA to investigate Shehbaz, Hamza in prison

FIA's anti-corruption wing has started an investigation into Rs25 billion money laundering charges against Shehbaz Sharif and Hamza Shehbaz.
The agency was granted permission in a letter sent by the inspector-general of Punjab Prisons.

Updated 18 Dec, 2020 03:08pm

Perspectives

Why is Pakistan's money laundering problem so persistent?

Whatever side of the political spectrum you support, robust anti-money laundering and counter terrorist financing measures need to be a strategic part of Pakistan’s future.

Published 18 Dec, 2020 11:04am

Pakistan

Money laundering case: FIA seeks permission to investigate Shehbaz, Hamza in prison

The FIA asked the prison department to make necessary arrangements in this regard.
FIA's anti-corruption wing has started an investigation into Rs25 billion money laundering charges against Shehbaz Sharif and Hamza Shehbaz.

Published 16 Dec, 2020 04:38pm

World

PM Khan welcomes Joe Biden’s ‘declared intent’ to target dirty money, offshore tax havens

"Developing countries are being impoverished by their corrupt elites who launder money to richer countries and offshore tax havens," the PM tweeted.
"I will lead efforts internationally to bring transparency to the global financial system, go after illicit tax havens, seize stolen assets, and make it more difficult for leaders who steal from their people to hide behind anonymous front companies," Biden wrote.

Updated 09 Dec, 2020 11:39am

Business & Finance

FIA, Sindh, Punjab police join hand to curb money laundering

Any crime, including money laundering, extortion or kidnapping for ransom, in which the use of money is proven, will now be investigated by the FIA.

Published 21 Nov, 2020 12:02pm

Pakistan

Money laundering case: Court indicts Shehbaz Sharif, others

All the accused nominated in the case pleaded not guilty of the charges

Published 11 Nov, 2020 10:46am

Pakistan

NAB issues arrest warrants for Asif Ali Zardari in fake accounts case

NAB chairman Justice (retd) Javed Iqbal has signed the arrest warrants.

Updated 15 Oct, 2020 12:35pm

Pakistan

Court grants physical remand of Shahabz Sharif in two references

Both Hamza Shahbaz and Shahbaz Sharif appeared before AC judge Jawadul Hassan in money laundering and assets beyond means references amid high security.

Published 13 Oct, 2020 02:06pm

NAB granted physical remand of Shehbaz Sharif till October 13

Sharif was arrested in the money laundering case.

Updated 29 Sep, 2020 02:36pm

Business & Finance

FinCEN Files: Dozens of Indian banks involved in massive money laundering

Coming back to India, banks i.e. Punjab National Bank, Kotak Mahindra Bank, HDFC Bank, Kanara Bank, Indusland Bank were also included in the list of money launderers.

Published 26 Sep, 2020 12:29pm

Pakistan

Money laundering: PML-N's secret bank accounts worth Rs9.5 billion traced, says Akbar

SAPM says Sharif family committed the crime in an organized manner through their employees

Updated 23 Sep, 2020 04:31pm

Markets

FinCEN Files: Pakistan's Altaf Khanani got huge sums from account in Danske Bank

As per the documents, Altaf Khanani, who was arrested by the US Authorities back in 2015 exchanged large and suspicious sums for accounts in Denmark’s bank namely Danske Bank's branch in Estonia through one of his central companies.

Updated 21 Sep, 2020 03:33pm

Gainers
Losers
Leaders

Stock	Price
Allied Rental Mod / Feb 26 Allied Rental Modaraba(ARM)	10.13 ▲ 1.00 (10.95%)
Dawood Equities / Feb 26 Dawood Equities Limited(DEL)	7.49 ▲ 0.71 (10.47%)
Service Fab. / Feb 26 Service Fabrics Limited(SERF)	12.14 ▲ 0.88 (7.82%)
Shield Corp. / Feb 26 Shield Corporation Limited(SCL)	389.67 ▲ 27.18 (7.50%)
Dadex Eternit / Feb 26 Dadex Eternit Limited(DADX)	41.92 ▲ 2.92 (7.49%)
Leiner Gelatine / Feb 26 Leiner Pak Gelatine Limited(LPGL)	21.72 ▲ 1.51 (7.47%)
F.Treet Manuf.Mod / Feb 26 First Treet Manufacturing Modaraba(FTMM)	20.45 ▲ 1.42 (7.46%)
Mehmood Tex / Feb 26 Mehmood Textile Mills Limited(MEHT)	555.00 ▲ 38.00 (7.35%)
SME Leasing Ltd. / Feb 26 SME Leasing Limited(SLL)	3.48 ▲ 0.23 (7.08%)
Suraj Cotton / Feb 26 Suraj Cotton Mills Limited(SURC)	249.95 ▲ 15.95 (6.82%)

Stock	Price
First Punjab Mod. / Feb 26 First Punjab Modaraba(FPJM)	2.80 ▲ -0.40 (-12.50%)
Ist Paramount / Feb 26 First Paramount Modaraba(FPRM)	5.20 ▲ -0.59 (-10.19%)
AKD Capital Ltd / Feb 26 AKD Capital Limited(AKDCL)	431.05 ▲ -34.95 (-7.50%)
Arpak Int. / Feb 26 Arpak International Investments Ltd.(ARPAK)	86.60 ▲ -7.02 (-7.50%)
Tata Textile / Feb 26 Tata Textile Mills Limited(TATM)	70.30 ▲ -5.70 (-7.50%)
John&Philips / Feb 26 Johnson & Phillips (Pakistan) Limited(JOPP)	37.65 ▲ -3.05 (-7.49%)
Pak Datacom Ltd / Feb 26 Pak Datacom Limited(PAKD)	114.18 ▲ -9.25 (-7.49%)
J.A.Textile / Feb 26 J.A. Textile Mills Limited(JATM)	13.05 ▲ -1.05 (-7.45%)
Leather Up. / Feb 26 Leather Up Limited(LEUL)	19.81 ▲ -1.59 (-7.43%)
Khyber Tob / Feb 26 Khyber Tobacco Company Limited(KHTC)	500.00 ▲ -38.43 (-7.14%)

Stock	Volume
Unity Foods / Feb 26 Unity Foods Limited(UNITY)	29,477,757 ▼ 0.00
Telecard / Feb 26 Telecard Limited(TELE)	28,512,500 ▼ 0.00
TRG Pak. / Feb 26 TRG Pakistan Limited(TRG)	17,777,852 ▼ 0.00
Pakistan Refinery / Feb 26 Pakistan Refinery Limited(PRL)	9,915,000 ▼ 0.00
Hum Network / Feb 26 Hum Network Limited(HUMNL)	9,845,000 ▼ 0.00
Lotte Chemical / Feb 26 Lotte Chemical Pakistan Limited(LOTCHEM)	8,893,000 ▼ 0.00
Byco Petr. / Feb 26 Byco Petroleum Pakistan Limited(BYCO)	7,865,500 ▼ 0.00
Hascol Petroleum / Feb 26 Hascol Petroleum Limited(HASCOL)	7,528,561 ▼ 0.00
1st Dawood / Feb 26 First Dawood Investment Bank Limited(FDIBL)	7,168,000 ▼ 0.00
Worldcall / Feb 26 Worldcall Telecom Limited(WTL)	6,317,500 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Feb 26	158.40
USD PKR Interbank Buying / Feb 26	158.30
USD to Japanese Yen / Feb 26	106.37
USD to Swiss Franc / Feb 26	0.91
Pound Sterling to USD / Feb 26	1.40
Euro to USD / Feb 26	1.22
UK LIBOR % / Feb 26	0.08

Stock	Volume
S&P 500 / Feb 26	3829.34
India Sensex / Feb 26	51039.31
Tokyo Nikkei / Feb 26	30168.27
Nasdaq / Feb 26	13119.43
Hang Seng / Feb 26	30074.17
FTSE 100 / Feb 26	6651.96
Dow Jones / Feb 26	31402.01
Germany DAX 30 / Feb 26	13879.33
France CAC40 / Feb 26	5783.89

Item	Value
Crude Oil / Feb 26	63.56
Karachi Cotton Assoc. / Feb 26	12000.00
Gold 10 Grams / Feb 26	94564.00
Gold Spot / Feb 26	1769.20
Cotton / Feb 26	89.69

MONEY LAUNDERING

Senate elections: PPP expresses reservations over schedule

Violations of AML/ CFT/CPF regulations: FIs allowed to file pleas within 120 days of sanctions

Govt determined to stop cycle of corruption in Senate elections: PM

NAB asks court to withdraw stay granted to Shehbaz’s wife

LHC bench to take up bail plea of Hamza today

Occasional customers: SECP for further tightening of due diligence requirements

British court orders to extradite Naqvi to US

AC postpones hearing of mega money laundering, Park Lane cases till today

Broadsheet scandal: Cabinet approves formation of inquiry commission to hold investigation

NAB has 'solid evidence' of money-laundering by 'big fish', says Iqbal

Passing oil prices impact unavoidable to avert further debt burden: PM

LHC restrains NAB from taking coercive measures against Nusrat

Granting NRO to politicians involved in corruption ‘a criminal offense’: SAPM

Park Lane, money laundering references adjourned till Jan 21

Broadsheet revelations exposed massive scale corruption of ruling elites, says PM

Mega money laundering case: AC records statement of prosecution witness

London's Luxury Homes are a Prime Target to hide 'Dirty Money': Report

Opposition trying to weaken NAB to get relief from corruption cases: SAPM

Money laundering case: FIA to investigate Shehbaz, Hamza in prison

Why is Pakistan's money laundering problem so persistent?

Money laundering case: FIA seeks permission to investigate Shehbaz, Hamza in prison

PM Khan welcomes Joe Biden’s ‘declared intent’ to target dirty money, offshore tax havens

FIA, Sindh, Punjab police join hand to curb money laundering

Money laundering case: Court indicts Shehbaz Sharif, others

NAB issues arrest warrants for Asif Ali Zardari in fake accounts case

Court grants physical remand of Shahabz Sharif in two references

NAB granted physical remand of Shehbaz Sharif till October 13

FinCEN Files: Dozens of Indian banks involved in massive money laundering

Money laundering: PML-N's secret bank accounts worth Rs9.5 billion traced, says Akbar

FinCEN Files: Pakistan's Altaf Khanani got huge sums from account in Danske Bank

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