thenews.com.pk 22 Sep, 2020 02:30 am

Secret documents reveal money laundering at global level

Secret documents reveal money laundering at global level
ISLAMABAD: An explosive cache of secret documents relating to banking industry reveals how illicit money went unchecked at global level with leading Western banks profiting while defying money...

Top Story September 22, 2020 ISLAMABAD: An explosive cache of secret documents relating to banking industry reveals how illicit money went unchecked at global level with leading Western banks profiting while defying money laundering crackdown.From Pakistan, Altaf Khanani’s global money laundering network formed part of SARs; a number of companies whose products were used in manufacturing Improvised Explosive Devices by Taliban also figured in connection with transferring and receiving huge sums of funds.2 million through five transactions from two companies notorious for their role in money laundering from Russia — Seabon Limited and Griden Limited.It received another $720,000 from Hilux Services LP, a company which was at the center of a money laundering scandal in Azerbaijan.

BuzzFeed News obtained record from a whistle-blower and shared it with the International Consortium of Investigative Journalists (ICIJ).According to BuzzFeed News, some of the leaked records were gathered as part of US Congressional committee investigations into Russian interference in the 2016 US presidential election while others were gathered following requests to FinCEN from law enforcement agencies.

Read full story at thenews.com.pk