Is there any procedure to trace foot prints of transactions through Hundi, Hawala?

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Former Deputy Prosecutor NAB, Raja Amir Abbas said, “In Fake Bank Accounts Scam, the real investigative point is to figure out the consideration and motives of an individual or company who deposit money in such accounts.”

Zahid Gishkori said, “Supreme Court has been informed by investigative agencies in fake bank accounts scam about the gravity of this scandal, as very high profile public office holders are involved in this crime.Money laundering through Fake Bank Accounts seems to be a bigger financial scam than Panama Papers Scandal.”

Shabbar Zaidi said, “Fake Bank Accounts are a source to wash black money as well as tax evasion and money laundering.”

Former Additional DG FIA Ammar Jaffri said, ” Banks should be investigated for registering fake bank accounts as it is not possible without the consent of Banking staff to operate such accounts. When we investigated Khanani and Kalia case, we found that they were doing 2 percent work legally through license of State Bank and for the rest of 98 percent work, they had created a parallel system. At the time of investigation, they always used to show license of State Bank. When we confiscated their computer systems and conducted forensic, we made all those links via IP addresses and gave for case proceedings. If a transaction of a specific amount (i.e. more than 10,000 dollars) takes place, it is the responsibility of all commercial banks to inform a set up in US as there is also a strong international regulatory in this regard. When money is transferred abroad through fake accounts, the detailed foot prints of such transactions are always present in our forensic cell unit. Besides Hundi and Hawala, money is also being transferred through cryptocurrency these days.”