Fake accounts

Published November 19, 2018

I CAN understand dirty money is made through corrupt practices and these large sums of illegal amounts are either stashed at home or deposited into what is called fake bank accounts.

What I fail to understand how a bank opens an account. What evidence of identity and information about the depositor is required? How are large sums of money transferred in foreign exchange abroad?

Which banks are involved? Who were the authorising person(s) when accounts were opened and money transferred? Where was the banking regulator (the State Bank of Pakistan) when all this was going on?

Which countries were these amounts transferred to?

Can the prime minister’s special assistant on accountability please give out information in detail?

We hear of different figures from different sources, on a daily basis, without supportive information

This poses a serious credibility issue.

Imtiaz Hydari

Dubai

Published in Dawn, November 19th, 2018

Opinion

Editorial

‘Source of terror’
Updated 29 Mar, 2024

‘Source of terror’

It is clear that going after militant groups inside Afghanistan unilaterally presents its own set of difficulties.
Chipping in
29 Mar, 2024

Chipping in

FEDERAL infrastructure development schemes are located in the provinces. Most such projects — for instance,...
Toxic emitters
29 Mar, 2024

Toxic emitters

IT is concerning to note that dozens of industries have been violating environmental laws in and around Islamabad....
Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...