The Federal Board of Revenue finds 10,000 people involved in money laundering

Arhama AltafWeb Editor

11th Jan, 2020. 11:00 am
Federal Board of Revenue

The Federal Board of Revenue (FBR) investigations unearthed that close to 10,000 people allegedly involved in tax evasion and money laundering.

The Federal Board of Revenue after tracing their cash transactions unearthed regarding this matter.

The bureau is also looking into affairs of (NGOs) and (INGOs) for their alleged involvement in money laundering and terror financing.

FBR sources told that they have so far received multiple complaints of alleged money laundering and terror financing.

They added that the bureau has already launched investigations against 36 to 40 of those cases.

Earlier, Federal Board of Revenue (FBR) gathered data for investigation of 24,000 Pakistanis who purchased dollars in bulk in 2017-18.

According to the details, FBR stated that they are currently examining the tax records of these people before investigating them.

FBR further stated that 9880, people are based in Lahore and the list of these people has been sent to the Regional Tax Office in Lahore.

The regional office will issue notifications to these people. FBR will ask them about their source of income through which they bought large sums of foreign currencies.

The government initiated the crackdown last year when Asad Umar was the finance minister.

The government was in collaboration with the State Bank of Pakistan (SBP).

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