Money Laundering; The Fascinating Way of Black Coloring White

Gold, Zinc, And Earth, Say That These Three Factors Have a Great Role in The Destruction of a Human.
  

When the earth is killed due to zinc around the globe, then the ground is taking the body of its master into its own hands, but the most dangerous thing is in these three, which is due to governments, linguistic and religious the groups are together with each other.

Drug, bodybuilding, corruption, the first stimulation of wars is money. Money is called the mail of the hand, but the same money makes the blood of each other an enemy. The wealth earned by black, marketing, bribery, weapons supply and different illegal ways around the world is called 'black color.' Chinese traders started white in black color two thousand years ago.

Those who used to use their wealth to hide from the thorns used to invest outside other provinces and China. This requirement gave birth to information about the Value Transfer System. At the beginning of the twentieth-century law enforcement was started against black-colored people, at the time, they used to do drug smugglers. In 1989, GCE countries jointly formed the Financial Action Task Force on Money Laundering against Money Laundering. However, after the launch of Money Laundering worldwide, strict law enforcement was emphasized against the funding of terrorist organizations.

At the beginning of 2002, governments around the world further improved money laundering laws to monitor financial transactions. Worldwide smugglers, politics, economic institutions use money laundering methods to legalize illegally earned money. Due to the opinion of the law, this illegal government does not even come to the eyes of tax authorities.

Money laundering is of two types. The first way is to steal tax which does not pay tax to the pre-existing business tax, and the same amount is purchased by a single property or a running business. In a way, it is also like black colored white. The second method is a criminal process, the person involved in such kind of money laundering can buy property or business through any illegal and criminal way (land acquisition, bank robbery, murder, abduction compensation, etc.) and then Repay the property obtained by selling it as a refund from the purchase of the property.

This money is the worst form of laundering. Around the state, criminal money laundering is considered the biggest crime of money laundering, when investments in counterfeit companies made of fraudulent companies come in a mini-laundering category under the name of fascinating charities.

The most popular and used method of money laundering is handicapped or handled, in this method, heavy amounts are transported from one place without any paperwork. Due to lack of knowledge of financial institutions, the tax is not even received on this number, and due to domestic currency trafficking, the local economy also gets an incredible loss. Illegal transfer of funds also contributes to worldwide terrorism, because there is no type of check and balance due to lack of terrorist organizations being transferred to huge amounts of money that they buy and sell of weapons of terrorism. Use for other purposes.

The Laws Against Money Laundering in Pakistan:

Pakistan became the member of the Asia Pacific Group Online Money Laundering (APP) in 2000. The main condition of this group membership was that the member of the country would legislate by submitting international laws of money laundering in its boundaries. However, Pakistan failed to make any useful legislation against money laundering by 2007, after which a high-level delegation of AP in July 2007 visited Pakistan and emphasized the presidential ordinance against money laundering by 31 December 2007, and In case of not doing this, Pakistan's claim to end membership. On August 8, 2007, President Asif Ali Zardari approved the anti-money laundering bill through a presidential ordinance.

Under this Ordinance, the Financial Monitoring Unit (FMU) was set up. Although the AGP acknowledged this law, but to meet international standards, the bill still has some problems that need to be further improved. The quality of this act of anti-money laundering does not comply with the Vienna and the Polymerero Convention because it has not been placed in the war-laundering, human trafficking, sexual exploitation and environmental crime in the case of money-laundering crimes.

In 2010, the Central Bank changed Anti Money Laundering Ordinance with Anti Money Laundering Act. Many law enforcement agencies in Pakistan are responsible for enforcing financial offenses. Among them are National Accountability Bureau (NAB), Anti Narcotics Force (ANF), FIA and Directorate of Customs Intelligence and Evaluation.

The main laws of 2007 anti-law laundering ordinance include the Counter-Terrorism Act 1997, the National Accountability Ordinance 1999, some parts of the Control of Narcotics Subtitle Act 1997. According to which terrorists should take immediate action in case of financial assistance, bribery and suspicious transactions and drug suspicious financial transactions. According to this Ordinance, NAB, FIA, ANF, and customs have the right to seize assets frozen by the State Bank. In recent years, Pakistan has made some concrete steps to make the law more effective against money laundering.

State Bank of Pakistan and Securities Exchange are the primary financial regulators of the Commission of Pakistan. To monitor the financial sector, both of these companies have set up anti-money laundering units, but due to lack of resources, these units did not give up their work better. This month, the State Bank of Pakistan has set up an innovative technology-rich data center to monitor suspicious delivery of funds. State Bank spokesman said that there was no automatic system to prevent and monitor anti-money laundering and terrorism, which was taking advantage of terrorist organizations.

However, with the help of this modern high-tech data center, debit transactions from banks, foreign exchange companies, and other sources will be monitored better, even when the Central Bank has resolved the United Nations Security Council resolution a month earlier In the context of new guiding principles were issued against money laundering. Remember that a few months ago the UN Security Council approved sanctioning of assets and money restrictions involved in money laundering.

In a statement issued by the State Bank in this context, it was clarified that the restrictions and responsibilities against the banned organizations and people in the light of the terms and instructions, the outlawed agencies and names based on the ongoing steps taken by government Institutions or individuals would continue to apply continuously. 'According to the announcement of the Central Bank, banks, DFIs or MFBs, any banned or famous company, or any person related to them or counter-terrorism laundering and terrorism. Do not provide banking facilities under the financial aid law.

Different Types of laundering Shapes:

Structuring: This method is sent to different recipients by distributing small pieces through money order, traveler's checks and mini order, which can be collected by collecting this amount.

Bulk Cash Trafficking: Cash in this method is transferred to noise bank accounts. Later this amount is legalized.

Trade-based Money Laundering: Money-laundering is done by lower or more worth the money transaction in this method invoice (bills). For example, one thing is worth a hundred rupees, but the bill is shown to be less worth Rs. 150 rupees by showing less worth Rs. 50 or more.

Shell companies and trust: Trust and shell companies work by displaying their property to other capitalists. But in this investment background, there is a policy, smuggler or drug seller itself owns the original capital. Panama documents were exposed to those investing in the shell and off noise companies.

Purchase and sale of property: This method is legalized in the manner that is derived from selling black property legally.

Black Sales: In this form of money laundering, many companies pay salaries to their employees, with a written agreement, and black lyrics are used for this work.

Insurance Policies and Prize Bonds: In this procedure, buy black-creamed insurance policies at a higher cost and claim them from the company, the amount that the insurance company receives is legal in this proceeding. Similarly, if a person gets a loan worth Rs. 50 lakh, then the agents of the money laundering agent pay five or a half rupees, they get bonds, thus giving Rs 100,000 Do the law. Observing it can be easily used on the stalls to sell prize bonds on the Bolton market in Karachi.

Money laundering in the form of gifts: This form of money laundering is being used in Pakistan very well. Because in Pakistan, 'gifts' are exempt from tax, the wealthy wealth of the country uses its option as a safe way to transmit its income, asset, and wealth. According to a newsletter quoted by tax authorities, in the fiscal year, 2,785 people in Pakistan paid money laundering in the form of gifts. According to the law, those persons are received from either the amount of money they are out of or are not aware of their sources of income.

Last year, cases of 'gifts' transactions were revealed for money laundering during the investigation of tax return files of rich people. During the inspection, the tax was nominated as compared to the income shown in many tax returns. After this discovery, Anti Money Laundering Cell of the FBR Department of Land Revenue started investigating those who had counted millions of rupees in the 'Gifts' category while submitting their taxes.

According to anti-money laundering cell data, 2,785 rich people declared the total tax of 102 billion rupees in 'Taxes' in the tax returns of 2016. In three cases, they showed 'gifts' to more than 1 billion property, while the largest 'gift' is Rs.1 billion worth Rs 70 billion, about eight people have assets from 50 million to 1 billion Given the gifts. In another category 97 rich people declared gifts worth Rs 20 crore to 50 crores while more 97 people included their property worth Rs 10 to 20 crore in these gifts. The number of people who showed their wealth and assets to gifts from 5 million to 10 million is 280, while other 2 34 people added assets from 1 million to 5 crores to gifts.

Tax officials say that the anti-lawn laundering cell will also examine the revenue of the 'gifts' and to assume the assets of these individuals under the Anti Money Money Laundering Act 2010, if the transactions of these gifts were made for theft of tax In the special court of the seizure and customs and departmental products, a case can be filed under the criminal provisions against those persons, in which the amount of money in property, property or illegal transactions involves heavy penalties as well as 10 An offense can be paid for the sentence imprisonment and the property of the property for years. The Senate Standing Committee for Finance has directed the FBR to investigate money laundering under the Gift Scheme.

Big Bank involved in Money Laundering:

On the violation of money laundering laws worldwide, heavy and imposed banks were heavily penalized. BCCI Bank was an international bank, which was cited by a Pakistani investor Agha Hassan Abidi in 1972. BCCI Saddam Hussein, the leader of the separatist organization of Palestinians, was abducted by Abandalal, to open account of numerous politicians and assist in money laundering.

The bill was blamed for billions of dollars of money laundering on this bank. In December 2012, an HBSB bank was a billion dollar worth a billion dollar and one of the world's largest banks in July 2014 was $ 8 billion. In 2013, the world's centralized digital currency Liberty reserve was closed on a $ 1.2 billion money laundering. The US $ 330 million has been fined for allegedly laundering billions of dollars for Iran at the great bank standard Chartered.

According to the financial institutions, the Standard Chartered Bank transmitted more than $ 60 billion to $ 250 billion in almost a decade. In May 2017, Singapore's financial authorities closed Switzerland's BSI bank on violating money laundering laws. The United States Department of Financial Service recently (DFS) has fined $ 225 million a big Pakistani bank.

According to the DFS, the New York branch of the bank mentioned was operational for the last 40 years. According to the AFP news agency, the US has been accused of not taking measures for potentially financing terrorist financing and money laundering, when the branch has now been closed.

The United States authorities issued a directive to supervise and implement effective measures for preventing funds from 2006 in the New York branch, but on the contrary to the bank's instructions, It was decided.

DFS authorities also say that this bank has been helping Saudi Arabia's transfer to a private bank to billions of dollars, and the Saudi-based terrorist organization was al-Qaeda linked. The Pakistani bank's branches assisted in transferring more than thirteen thousand times and included those involved in the transfer of funds and international traders of weapons and weapons.

Pakistan Ranked 46th in the List of Worst-Laundering Countries:

According to the Money Laundering Index of the Bizal Institute of Governance, to work for preventing money laundering, Pakistan is ranked 46th in the list of 50 countries performing worst in the prevention of money laundering and terrorism. Is. The list set by the Basel Institute of Governance includes names of countries where there is a huge tendency for terrorism financing through money laundering.

Overall, this list includes 146 countries, where the countries were running tax-examiners' paradise, and offshore companies were not included in the list based on data disadvantages. The Basil Institute established in Switzerland works together with private and public institutions to prevent corruption worldwide. While analyzing records in the Basel's anti-money laundering list, a total of 140 indexes were reviewed, including AML / CFT rules, corruption, financial standards, political conditions and law enforcement.

Statistics were obtained from Trans Paradise International, World Bank, and World Economic Forum to compile this list. In 2017 index, Pakistan was given 6.66 points for monitoring the prevention of money laundering and terrorist financing, in countries with worst score 8.6, Afghanistan 8.38, Guinea Bissau 8.35, Tajikistan 8.28, Laos 8.28, Mozambique 8.08, Financial, 7.97, Uganda 7.95 and Cambodia 7.94.

Flatland is ranked fourth with four scores in the top performing countries in respect of strong oversight of banking and financial transactions. Other countries performing best after Finland include Lithuania 3.67, Estonia 3.83, Bulgaria 3.87, New Zealand 3.91, Slovenia 4.02, and Denmark 3.05.