FBR registers 119 FIRs under the Anti Money Laundering Act 2010

ISLAMABAD: In its bid to comply with the Financial Action Task Force (FATF) conditions, the FBR has so far registered 119 total complaints (FIRs) under the Anti Money Laundering (AML) Act 2010, involving revenues of more than Rs88.4 billion. The FBR has so far recovered Rs6.22 billion tax amount under this head.

In this process, 66 immovable properties and 203 bank accounts have been provisionally attached with the prior permission of the court under the provisions of AMLA 2010 and the cases are under trial in various courts of Special Judge Customs and Taxation, throughout the country.

The FBR’s Directorate General Intelligence and Investigation-IR is also a Law Enforcement Agency under the Anti-Money Laundering Act, 2010. From 2016 to 2019, only 32 complaints (FIRs) were lodged under AMLA, 2010.

Realizing the importance of the matter and to curb the menace caused by the proceeds of crime from money laundering, the Director General I&I-IR has directed all the seven directorates of I&I-IR to take strict cognizance of money laundering without any exception but purely on merit.

This drive has also produced good results and by the end of October 2020, the total number of complaints (FIRs) registered under AMLA 2010 have reached 119 so far. According to an official announcement made by the FBR, the Directorate General Intelligence and Investigation (Inland Revenue) has intensified the countrywide action against tax-evaders and fraudsters (individuals, AOPs and corporate entities) involved in evasion of sales tax, income tax and Federal Excise Duty.

In this regard, Directorates of Intelligence and Investigation (Inland Revenue) have expedited the crackdown against tax fraudsters based on credible evidence and following due process of law based on legal provisions laid down in various tax statutes.