January 23, 2017
In the absence of an effectual anti-money laundering framework, Pakistan continues to be a hub of money laundering activities with an individual having won 135 times on the country’s prize bond scheme in a short period of 29 weeks (7 months), The Nation has learnt on good authority.
National Crime Agency (NCA), Birmingham (UK), which is investigating the case, believes that the suspect used criminal money to purchase prize bonds that are already known to have won from prize bond agents in Pakistan, the sources said. The defendants Kashaf Khan and Malik Abdullah Farooq are charged with conspiracy to commit money laundering. According to the NCA, the claim of winning the scheme 135 times in a 29 week period is quite unbelievable. Police believe that they have not genuinely won on the prize bond scheme but have purchased the winning bond tickets from prize bond agents/dealers in Pakistan.