KARACHI: The newly-appointed supervisor general of Federal Examination Firm (FIA) Sanaullah Abbasi has prompted officials to perform top quality investigation as well as get “timely and also quality sentence” in the cases of cash laundering as well as terror funding to fulfil requirements of Financial Action Task Force, according to officials.
As the FIA concentrated on anti-money laundering (AML) and counter-terror financing to satisfy demands of FATF, courts in Balochistan awarded sentences in 3 significant money-laundering situations in the last week of June and 50 comparable cases had been registered in Karachi just in which 47 implicated had been arrested with recuperation of over Rs2 billion cash, said the officials on Tuesday.
These and various other problems were pondered upon throughout recent check out of DG FIA to the FIA zonal office Sindh.
Additional DG South Sultan Ali Khowaja oriented Abbasi on the working of FIA South Area that included Sindh Zone-I, II as well as Balochistan.
FIA Sindh Zone-I (Karachi) supervisor Amir Farooqi told Dawn that the participants in the briefing exchanged views concerning some significant issues concerning cash laundering investigations.
He said that in cases entailing cash laundering, the FIA required document of residential property as well as financial institution data from various other countries under mutual lawful assistance (MLA), which was necessary under FATF. It was recommended that mechanism required to be designed for sharing the claimed data under MLA, he stated.
Besides, Mr Farooqi claimed, the federal government needs to designate special prosecutors to protect cases signed up under MLA as envisaged in the act itself.
Mr Khowaja claimed the FIA principal routed to carry out examination on value as well as obtain “timely as well as quality sentence” in cases to ensure that FATF needs could be fulfilled.
Regarding efficiency of FIA Balochistan, Mr Khowaja said that courts in Quetta had offered judgements in 3 cash laundering situations on June 23, 28, as well as 30, specifically, founding guilty implicated and also imposing of huge penalties.
He explained that in Sindh Zone-I (Karachi just), FIA had actually so far registered 50 cases of cash laundering and recouped Rs2,731 million cash money. A total amount of 47 charged had been jailed as well as out of them 18 had been charge-sheeted while 32 cases were pending investigation, he stated.
The significant cash laundering cases concerned sugar satta scandal, SAI (Shaheen Airlines), TDAP, EOBI, KPT, GPO frauds as well as others, said authorities.
At the same time, the meeting was educated that a total amount of 2,292 queries were under procedure and 358 cases were under investigation in South Area (Sindh as well as Balochistan).
The DG FIA released directions to complete the investigations on advantage. He was informed on instances under test in various courts and sentences obtained in cases entailing cash laundering, hundi, hawala as well as corrupt methods in public-sector organisations.
Apart from recuperating over Rs2bn cash in money laundering instances, property worth Rs 2,128 m was also confiscated by South Zone, stated officials.
Furthermore, in cases of hundi as well as hawala cash worth Rs1,149 m was seized. “Variety of accused who have been granted punishments is 3,828 over the last three years,” said Khowaja, including that the convicted persons had been awarded imprisonment ranging from two years to 28 years in these situations.
The DG appreciated the working of FIA South Area and urged authorities to more boost high quality of investigations.