FIA seeks: NAB-like powers to stop money laundering

ISLAMABAD: The Federal Investigation Agency (FIA) wants NAB-like extensive powers to stop money laundering.

The FIA officials briefed the National Assembly’s Standing Committee on Interior in connection with its efforts against money laundering in the country on Tuesday. In the briefing, they expressed reservations over the law governing anti-money laundering measures, reported a private TV channel on Tuesday.

“It takes us months to take judicial permission even in a case where we require a banking record,” FIA Additional Director General Basharat Mehmood told the standing committee. NAB has unrestricted access to all official records, he pointed out. Contrarily, FIA has to wait for months for a judicial permit, seeking to get certain banking records, said the FIA executive.

The committee declared the NAB powers as black law and opposed the FIA’s demand.

The FIA official also explained the difference between benami and fake bank accounts. “A fake bank account is one that is manipulated by others after its owner dies,” said the FIA official. “In a benami account, the account holder is neither the beneficiary nor do they operate the account themselves. In the meantime, the transactions are not in harmony with what they earn.”

PML-N’s Marriyum Aurangzeb was critical of FIA’s performance. She expressed dissatisfaction over the briefing too. “FIA was asked to give a complete presentation,” she said, adding that the agency was told that its cases are weak.

“Take the example of their warrants issued to Interpol for the arrest of Hassan and Hussain Nawaz. Interpol rejected to accept these warrants,” she said.

FIA should introduce the right skill set into the organisation while taking proper steps so that it doesn’t have to face humiliation at the international level, she remarked.

The standing committee asked FIA to submit an inquiry report against housing societies as well.