UK add Pakistan in money laundering watch list

[HAIDER]

UK submit a new objection in FATF, a detail report about how Pakistani illegally transfers wealth from Pakistan. Pakistani buy expensive properties in UK through ill-gotten money. UK has put 21 states on a watch list and Pakistan is on top.

Hello Qazi and Nawaz Sharif. Thanks for weakening Pakistan's case in FATF.

 

[graphican]

UK submit a new objection in FATF, where they submit detail report about how Pakistani illegally transfers wealth from Pakistan. Pakistani buy expensive properties in UK through ill-gotten money. UK has put 21 states on a watch list and Pakistan is on top.

Hello Qazi and Nawaz Sharif. Thanks for weakening Pakistan's case in FATF.

Nawaz is a known thug. Thanks to the judiciary for not prosecuting their fellow criminal judge. Mind it our relationship with the USA is strained and this move by UK is part of their signalling.

 

[RIP Pak LAW]

So UK just realized it now...

 

[Vapnope]

UK submit a new objection in FATF, where they submit detail report about how Pakistani illegally transfers wealth from Pakistan. Pakistani buy expensive properties in UK through ill-gotten money. UK has put 21 states on a watch list and Pakistan is on top.

Hello Qazi and Nawaz Sharif. Thanks for weakening Pakistan's case in FATF.

FATF recommendations are in fact beneficial for Pakistan as we didn't do anything regarding hundi and hawala which deprives us of tax. Successive Governments failures to stop this activity made an expression that we funded militant using the same system.

 

[HAIDER]

Imagine Pakistan's next CJ faced a money laundering case. And failed to provide a money trail and same Nawaz Sharif.

FATF recommendations are in fact beneficial for Pakistan as we didn't do anything regarding hundi and hawala which deprives us of tax. Successive Governments failures to stop this activity made an expression that we funded militant using the same system.

Pakistan meet another FATF requirement today.


Rs7,500 denomination prize bonds withdrawn
Khaleeq KianiPublished April 30, 2021 - Updated about 3 hours ago
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The government has decided to withdraw prize bonds of Rs7,500 denomination with immediate effect and allowed its conversion into registered bonds of higher denomination. — Online/File
ISLAMABAD: The government has decided to withdraw prize bonds of Rs7,500 denomination with immediate effect and allowed its conversion into registered bonds of higher denomination.
In a notification issued by the finance ministry, the government had ordered it “to withdraw Rs7,500 denomination National Prize Bonds from circulation with immediate effect under Sub-Rule 1 of Rule 4 of National Prize Bonds Rules 1999”.
It said the prize bonds of Rs7,500 denomination shall not be sold with immediate effect and will not be encashed or redeemed after December 31, 2021, except the prize-winning bonds in which case Rule-15 shall apply instead of Sub-Rule 2 of rule.
The bond holders shall have three options to replace or encash these bonds. First, the Rs7,500 bonds can be converted into Premium Prize Bonds (registered) of denomination of Rs25,000 and Rs40,000 (subject to the adjustment of differential amount) through 16 field offices of the SBP Banking Services Corporation, and branches of six commercial banks — National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited and Bank Alfalah Limited.
Second, these bonds can be replaced with Special Savings or Defence Savings certificates through the 16 field offices of the SBP Banking Services Corporation, authorised commercial banks and National Savings Centres.
Third, these bonds will only be encashed by transferring the proceeds to the bond holders’ bank accounts through the 16 field offices of the SBP Banking Services Corporation as well as the authorised commercial bank branches and to the savings accounts at National Savings Centres.
The notification stated that no further draw of Rs7,500 denomination bonds shall be held from now onwards.
Published in Dawn, April 30th, 2021

 

[Kabira]

hmmm so why UK doesn't do anything about it? They can confiscate properties etc

 

[Baby Leone]

lol ulta chor kowar ko daante.


it should be other way but alas we have idiots always in our govt with no self respect.

 

[Sugarcane]

Actually it should be third world countries putting UK on watch list for being safe heaven of criminals and crooks

 

[313ghazi]

It's hilarious. The UK accomodates more black money than Dubai and then acts the victim. I hope they sanction all the elite class of Pakistan, confenscate their wealth.

 

[313ghazi]

VOA have some more detail...

British ‘High-Risk’ Designation for Pakistan Seen as Bad Sign for Anti-Corruption Efforts

Some experts say the UK designation of Pakistan as a 'high-risk' country for money laundering and terror financing complicates Islamabad’s efforts at the Financial Action Task Force

www.voanews.com

Experts say since Brexit, British officials strengthened anti-money-laundering laws to define a high-risk country as one where banks need to do due diligence before accepting foreign transactions.

FATF’s remaining three items require Pakistan to effectively prosecute terrorists and stop banned groups from reregistering under new names to collect donations.

Anjuman Sipah-i-Sahaba Pakistan, designated by the United Nations as a terrorist group in 2002, reregistered as Ahl-i-Sunnat Wal Jamaat in 2008 to contest elections. The militant Laskar-i-Tayyab, banned the same year, reregistered as Jamaat ud Dawa to collect donations for Kashmir.

Siddiqi told VOA that Pakistan has “substantially” reduced its $10 billion annual losses in money laundering identified in 2017 by the U.S. State Department’s International Narcotics Strategy Report. Pakistan’s bank remittances grew by 43% this year, “partly due to COVID,” but also because more foreign transfers were made through banks, he said.

Some officials believe the U.K.’s decision to add Pakistan to the list of high-risk countries may be related to the country’s increasing scrutiny on suspicious funds coming into the U.K.

On Monday, British Foreign Secretary Dominic Raab told Parliament that sanctions would be levied against individuals who use the U.K. as a “honey pot” to transfer ill-gotten wealth from their respective countries.

In a high-profile case in 2019, a Pakistani business tycoon forfeited $264 million in assets to the British government in a money-laundering probe. The businessman, Malik Riaz, paid the funds without admitting guilt. The money was returned to Pakistan, but Riaz was never prosecuted.

Moin Khan, a London criminal duty solicitor, told VOA that Pakistan’s failure to prosecute Riaz worsened the perception that the government is not serious about cracking down on corruption.

Chaudhry rejected the criticism and told VOA that Riaz was prosecuted.

“Riaz’s business partner, a parliamentarian, told me, ‘We are forced to pay a 2.5 billion-rupees fine [$16 million] every month, and it is creating a financial crisis for us.’”

However, that fine appears to be related to a 2018 Pakistan Supreme Court ruling on a property dispute.

London journalist Fareed Qureishi said Pakistani government officials never spoke openly about the Riaz case, even though they provided extensive details about how former Prime Minister Nawaz Sharif and former Finance Minister Ishaq Dar parked illegal wealth assets in the U.K.

“For a government which was voted in to bring back wealth looted by previous rulers, it feeds the narrative there is selective accountability in Pakistan,” Qureishi said.

Information about the regulations in the UK can be found here...

The Money Laundering and Terrorist Financing (Amendment) (High-Risk Countries) Regulations 2021

www.legislation.gov.uk

High-risk third countries for AML purposes

A list of countries that have been identified as 'high-risk third countries' for anti-money laundering (AML) purposes.

www.lawsociety.org.uk

 

[nangyale]

I said this before and will repeat it here again. The current UK government is dominated by Hindus in many key positions. They have a general hatred for anything Muslim and particularly Pakistan.

 

[khail007]

Huh ... UK is providing full support/cover to Altaf/Nawaz/Dar and their dynasties. They know there is huge investments by these corrupts/criminals/thieves in UK. So at one hand these colonist mindset reaping the benefits of money laundering and on other hand cover their own sins blaming Pakistan for it.
IMO all such countries who are enjoying the benefits of investing such laundered money should also be included directly in FATF black list and to be remain there till they returned the money and corrupts to country of origin.

 

[Azadkashmir]

Actually it should be third world countries putting UK on watch list for being safe heaven of criminals and crooks

city london rothschild.

 

[TNT]

Will anyone ask these hypocrite brits why they make laws that attract such money? They themselves take advantage of corruption of 3rd world countries and then sit on a high moral seat. The problem is most of our ppl are chamchas of gora and have no self respect or pride in identity. There are ppl that would sell their arms for british nationality. We cannot even ask or do anything as long as these western chamcha elites and brown sahabs rule us. Even our generals love to educate their offspring in west. I could have had british nationality and i didnt get it because i did not want to take an oath of allegiance to the queen. The people around me thought i am crazy but people who lack ghairat wont understand.
The UK is the ultimate castle of zionists and freemasons, while portraying an image of civilized nation.

 

[Azadkashmir]

Will anyone ask these hypocrite brits why they make laws that attract such money? They themselves take advantage of corruption of 3rd world countries and then sit on a high moral seat. The problem is most of our ppl are chamchas of gora and have no self respect or pride in identity. There are ppl that would sell their arms for british nationality. We cannot even ask or do anything as long as these western chamcha elites and brown sahabs rule us. Even our generals love to educate their offspring in west. I could have had british nationality and i didnt get it because i did not want to take an oath of allegiance to the queen. The people around me thought i am crazy but people who lack ghairat wont understand.
The UK is the ultimate castle of zionists and freemasons, while portraying an image of civilized nation.

brother the dajjal will one hand have hell but is heaven and one hand heaven but is hell.
i know i sound hypocryte but due to very bad health i cant move to pak but it is my dream.