Money-laundering in India and Pakistan

Why it is so difficult to catch the offenders?


By Amjed Jaaved


Pakistan’s prime minister intends to constitute an inquiry commission to look into ballooning of debt burden during the past ten years. He wants to ferret out the link between rising fortunes of some politicians pari passu increase in the debt burden. So, the inquiry will inevitably delve into the question of flight of ill-gotten money. The flight of money leaves no trail or trace. It goes into foreign `havens’ through benami money-laundering conduit.

Tracking money laundering

Tracking beneficiaries of debt balloon or other financial offenses is not easy. Take Pakistan’s State Bank’s devaluation of rupee in July 2017.  Ishaq Dar, then finance minister (now an absconder), claimed Pakistan’s `banker of the last resort’, the State Bank of Pakistan, acted without his volition. He `promised an inquiry within ten days’. The

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