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More than 5,000 fake accounts used for money laundering: PM special assistant

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The government has identified more than 5,000 fake accounts which were allegedly used for money laundering, said Special Assistant to Prime Minister on Accountability Shahzad Akbar on Monday.

Akbar, flanked by Senator Faisal Javed and Adviser to PM Iftikhar Durrani, held a press conference to share the progress made by the assets recovering unit — a joint platform of officials from the State Bank of Pakistan, the Federal Board of Revenue and watchdogs to bring back illegal money stashed abroad.

The adviser told the media that the recovering unit — which is currently focusing on 10 countries — has found that assets worth $5.3 billion were accumulated abroad through alleged money laundering. “The amount translates into Rs700 billion,” he said, adding that further details of all Iqama holders were being collected with the help of Dubai authorities as well as the local mechanism.

The accounts and foreign properties were found during the investigations into the ongoing cases. The details of each and every case will be shared with media when corruption references will be filed properly, Iftikhar Durrani added.

“$1.5bn properties bought in Dubai are a small estimated faction of the ill-gotten money [laundered abroad],” said Akbar.

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