Money Laundering

ISLAMABAD: A source related to banking, who has close association with one of the members of the Joint Investigation Team (JIT) probing the Panama Papers case, confirmed to this scribe that majority of the JIT members were not even given the time to go through the documents which were being submitted before the apex court […]

LAHORE: The Panama Papers have no legal value, claimed Railways Minister Khawaja Saad Rafique on Sunday. Addressing a party event in Lahore, the Pakistan Muslim League-Nawaz leader said “Only in Pakistan these documents were taken seriously, where an elected prime minister and his family were dragged into cases”. “No evidence of money laundering has been provided […]

ISLAMABAD: A source related to banking, who has close association with one of the members of the Joint Investigation Team (JIT) probing the Panama Papers case, confirmed to this scribe that majority of the JIT members were not even given the time to go through the documents which were being submitted before the apex court […]

On 26 June 2017, the Act on the Implementation of the Fourth EU Anti Money Laundering (AML) Directive entered into force. It provides for the establishment of a central electronic Transparency Register, according to which all civil law legal entities, registered partnerships, trusts and trust-like legal formations must have their „beneficial owners“ disclosed. Under the […]

Members of Congress introduced bipartisan legislation to require anonymous shell companies to disclose their beneficial owners in an effort to uncover tax evasion, money laundering, terrorism financing and other crimes. Rep. Carolyn B. Maloney, D-N.Y., joined together with Peter King, R-N.Y., to introduce the Corporate Transparency Act in the House, while Sen. Chuck Grassley, R-Iowa, […]

LAHORE/ISLAMABAD: The details of taxes paid by the Sharif family from 1990 have been sent to the Federal Board of Revenue (FBR), sources said on Thursday. Details of taxes paid by Prime Minister Nawaz Sharif’s cousin, Tariq Shafi, and family confidant Finance Minister Senator Ishaq Dar have also been delivered to the FBR. Sources confirmed […]

ISLAMABAD: Pakistan Prime Minister Nawaz Sharif’s daughter, Maryam Nawaz, has been summoned to appear before the Joint Investigation Team (JIT) in connection with the Panama Papers probe into the family’s assets, the media reported on Tuesday. In the summons, the JIT has asked Maryam to appear before it on July 5. Maryam is currently in […]

By Aamir Latif KARACHI, Pakistan Investigators probing the Panama Papers scandal on the orders of the country’s Supreme Court, have summoned Pakistani Prime Minister Nawaz Sharif’s daughter and his potentıal political heir on July 5, according to a summons from the investigation team on Tuesday. Maryam Nawaz — who is being touted as the next […]

Linking Aadhaar to bank accounts is a recipe for creating benami bank accounts and scaling benami bank transactions. It threatens to destroy your bank accounts and destroy the country’s banking system. It’s devastating that the integrity of banking processes is being destroyed by dividing, outsourcing and privatizing processes integral to core banking so that they […]

Finance Minister Edward Scicluna was careful not to engage with MEPs who again pressed him on Malta’s commitment to fight money laundering, Panama Papers leaks and claims of the island being used for tax evasion. Prof. Scicluna told the European Parliament’s economic and monetary affairs committee (Econ) in Brussels on Monday: “As president of the […]

The British Virgin Islands — a tax haven or not? Wikimedia Transparency and tax campaigners are clashing with officials from the British Virgin Islands (BVI) over a new report claiming the Caribbean islands are not a tax haven. The report, written by Capital Economics and commissioned by BVI Finance, which promotes the country’s financial sector, […]

LAHORE: Raising questions about the proceedings of the Joint Investigation Team (JIT) about his family’s financial affairs in the wake of the Panama Papers revelations, Prime Minister Nawaz Sharif has said that he will “bravely face conspiracies” and will not let them succeed. Talking to reporters on his arrival in London on Saturday, he said: […]