Six Pakistani banks have been named in an investigation on the role global banks play in money laundering by Buzzfeed News and the International Consortium of Investigative Journalists (ICIJ), for 29 suspicious transactions close to $2.5 million.
The banks named are Allied Bank, United Bank (UBL), Habib Metropolitan Bank, Bank Alfalah, Standard Chartered Bank Pakistan, and Habib Bank (HBL). All the suspicious transactions took place in 2011 and 2012.
Buzzfeed News had shared with ICIJ more than 2,100 suspicious activity reports, or SARs, filed by global banks to the U.S. Treasury Department’s intelligence unit, the Financial Crimes Enforcement Network, known as FinCEN.
According to the investigation, global banks moved more than $2 trillion between 1999 and 2017 in suspicious payments, and flagged bank clients in more than 170 countries who were identified as being involved in potentially illicit transactions.
Banks file SARs when they believe a client is using services for potential criminal activity, though the filing in itself does not require a bank to stop doing business with a client.
According to the data revealed by ICIJ, 29 such suspicious transactions to and from Pakistan were flagged. Of those, the ‘received’ transactions amounted to $1,942,560, while the ‘sent’ transaction was $452,000.
Allied Bank had 12 suspicious transactions flagged, receiving $1,001170; UBL had eight transactions flagged, receiving $399,620; Habib Metro had two transactions flagged, receiving $74,980; Bank Alfalah had three transactions flagged, receiving $99,480 and sending $452,000; Standard Chartered had four transactions flagged, receiving $199,860; and HBL had one transaction flagged, receiving $167,450.
Out of the 29 transactions, Standard Chartered filed 28 SARs with FinCEN, while The Bank of New York Mellon Corp., filed one. All of these transactions took place between September and December 2012, except for one transaction that took place in November 2011.
This is how money flows through the pimps of western world out of all the third world countries to these so called developed nations of the world!!
Mostly It’s the money coming into Pakistan (approx 1.9+MM).
Please advise how politicians big wigs have millions in foreign currency in European/ middle Eastern banks but yet they are not named money laundering facilitators.
Good point
These reports are prepared just to malign Pakistan. 2 Million is a joke in 2 Trillion illegal transactions . Pakistani banks are the most careful in money matters. Pl don’t be swayed awy by Anti Pakistan lobbies. Be United for your Country.
True
Agree
When BCCI was shut down in 1991 it was held for laundering USA 14.5 Mill ion whereas the total black money laundered globally for the year was USA 3.0 Billion official figures.
No other Intrtnational Bank was punished that too so severely.
What’s the proportion of 14.5 against 3000. Wonder if it’s for FATF blacklisting.
I am not a conspiracy theorist, it’s just a practical question. 😇
QADAM BARHAO NAWAZ SHARIF, YE TUMHARE SATH HAI
Agree with you
Whole world is against Pakistan I forgot the year but Americans stupid people have banned and closed a bank called BCCI which got popularity in few years the jealousy of America came up.
If money was coming only into Pakistan, it would have been rich, but fact is otherwise. Money left Pakistan through corrupt means to countries developed countries.
Sucking the blood out of the arteries and leaving even the veins ruptured. Papa john’s is only one such business. They are all big conglomerates and internationally famed and framed entities who do not recognize the slumabad ‘kutchraas.’
The ‘kutchraas’ keep piling on top the rest; the lower layers rotting to dust and dacaying; that causes the whole lot to crumble down and return to dust – unsung, unearthed. Dust thou art to dust belong. And mind you its the human touch we are talking about all this while. The inhuman touch of the ‘inhumanes’.
What about nawaz sharif and zardari? Papa Jones still not proved
The happenings happened 8 – 10 years ago. I believe it is a different story today. There are vested interest also. Did any of you remember BCCI BANK once a proud of Pakistan financial institution but vested destroyed it too.
Its ignorable figure.
Because banks deal with Trillions dollars. They can’t focus on each and every cent.
Triple than this amount would been laundered by any European or American Banks.
Obviously they can’t catch so small amount.
Nawaz Sharif ‘Father was industrialist And Zardari / Bilawal ‘ forefathers had their own State pre partition read the history . In Pakistan it is very easy to declare thieves to gentlemen and to declare pious to thieves because too many culprits are available for sale to propagate any thing for money. This is my personal experience.
Sa
Sa
Sa
All rubbish nothing is truth here just to portray the failed organisation in Pakistan. This media is against of Pakistani nation. We have wonderful professionals in banking sector. Published an article without research.
Fake data.
It’s the banks that reported the suspicious transactions by filing SARS report. It should be seen as a good and positive thing that the banks are on top of illegal activities. Plus $2.5MM is a joke of an amount.
It is true that 6 Pakistani banks name in FinCEN leak
This is simply a small amount as compared to money laundering by USA and Swiss banks. Who will penalize USA and Swiss banks?
If this is a comeback comment then it is pretty much weak.
What about fraudulent activities carried by European . American and swiss banks that survive due to money sent fraudulently.
rofl this is another plan of india for fatf. The media news outlet just randomly released this report before FATF October meeting. Great
These seem to publish without research and proves. Fake reports.
Pakistan has a habit of counter questioning to justify their illegal activities. They will never answer steright including Kashmir . Paki children should know. 1. Kashmir was nevar the part of deal of partition. So pakistan is a NON-party . 2. The king of Kashmir succeeded to India ; as per the rule of the game. 3. Even in UNO – Pakistan -being a non party – must vacate pakistan occupied Kashmir without changing the demography or status. Pakistan have created lies and propaganda for 70 years -promoting and fooling its innocent people . Now Pakistan wants to talk about Kashmir.In otherwords a non-party is party and wants to complicate the issue everyday . The end is Shias of Pakistan will ask for their homeland because SHIAS( plus Ahmediyas, Ismailis) cannot live with Sunnis.
India Won all wars against Pakistan,
How come Kashmir is still POK.
Maybe India is just lying about winning???
just wait China teach how to behave. So what about Junaghar & Kahthaware hand over to Pakistan because they Annexed with Pakistan. Why you Invaded Hyderabad Deccan? They didn’t wanted to annexed with Indian.
Looks like you guys have been drinking COW’S URINE AGAIN!! and lost your mind about 1965 and Kargil. I was planning to but a nice big plot of land in Kargil!! Subservience is in your nature that why you were always ruled. Now you are ruled by a cows urine specialist. Gimme a Beef Burger now!! The Chinese are also coming for you!!
Kashmir was part of the partition but the Raja of Kashmir was not. This was the start of the nefarious design of India from the very start. Did you asked the majority muslim part then? Why the people of Kashmir still do not want to be with you? Remember Kashmiris are going to get their freedom from India not now may be in the near future. Your clandestine efforts and nefarious designs will INSHA ALLAH one day fail.
Who the hell you are, to talking about Pakistan? You said all what’s your leaders and Media brain washed your ______, In 1965 the then PM of India bagged in UN to withdrawal of Pakistani troops from Indian Punjab, Pakistan already won that war and your Media Just told you people a wrong story. In Kargill also same happened. And by the way the issues of other religions in Pakistan, not your issues and we know how to deal with our people because they also are Pakistani even belongs to Shia community of Pakistan or any minority of Pakistan, they all proud Of Pakistani so don’t create a rift among us. Just think about your Endia, which is going to break in many pieces very soon.
$2.5 M of suspicious transactions from 8 years ago. Can we just move on with our lives
were you all sleeping all that time. Can someone tell how $ 1.3Trillion were transfer to Swiss Accounts By Indians?? And by What legal means??
were you all sleeping all that time. Can someone tell how $ 1.3Trillion were transfer to Swiss Accounts By Indians?? And by What legal means??
Fuck off
0.000,0002%, of inappropriate transaction not worth the time publishing it.
my many is Pakistan I can receive it bank exchange tell me
Is there any report regarding crupts leaders money transfer to there bank’s in U. K and U. S. A. Given citizenship to them
Allama Tanveer Hussain Mohammadi, Chairman Peace Moats Organization for Interfaith Harmony Pakistan and Senior Vice President Syed Badr Al Hassan Hashmi have strongly condemned the propaganda against President Tayyip Erdogan of Turkey. Indian media has claimed that Turkish President and Pakistan are conspiring against India. After highlighting the ongoing Indian atrocities in Kashmir, Indian media launched a propaganda campaign against Pakistan as well as the Turkish President. In which Turkish President Tayyip Erdogan is being accused of including Pakistani and Kashmiri journalists in the Turkish media, which is less to be condemned, the Indian media published a report full of propaganda yesterday in which the claim It was alleged that the article on the daughter of a Kashmiri freedom fighter published on the website of a Turkish news agency was an attempt to defame India. The report claims that Pakistan, especially in the Turkish media, is recruiting such trained Pakistani journalists with the support of President Erdogan in order to defame India. Who report on Kashmir in particular, which has tarnished India’s image on the world stage. It should be noted that the Turkish President had raised the issue of Kashmir in the United Nations while paying homage to Pakistan. Turkish President Recep Tayyip Erdogan had said that stability and prosperity in South Asia could not be separated from the Kashmir issue. Turkish President Recep Tayyip Erdogan highlighted the Kashmir issue in his address to the UN General Assembly. The Turkish President mentioned the Kashmir issue in his address to the UN General Assembly. Addressing the UN General Assembly, he said that stability and prosperity in South Asia cannot be separated from the Kashmir issue. He further said that despite UN resolutions, 8 million people are trapped in Occupied Kashmir. For a secure future, the Kashmir issue has to be resolved through dialogue instead of war. The Peace Moats Organization for Interfaith Harmony Pakistan-India Condemns and demands that Kashmiri Muslims be given the right to self-determination so that Kashmiri people can continue their life journey of their own free will.
Chairman of Pakistan National Reform Movement Brigadier Retired Nadir Mir has said that Indian New amendments to the Control of Building Operations Act and the Jammu and Kashmir Development Act have been reaffirmed by the occupying authorities, following fears that a new Palestine was being formed. The United Nations must break the shackles of stagnation.
Ha