US closes key money-laundering, tax evasion channel
A major avenue for global money laundering and tax evasion has been closed off by a new law requiring disclosure of owners of US shell companies used to hide billions…
PTI, FBR & tax directories — I
Failure of the coalition of Pakistan Tehreek-i-Insaf (PTI) vis-à-vis economic governance, changing four finance ministers and five chairpersons of Federal Board of Revenue (FBR) during its tenure since August 2018…
UK’s role in global illicit finance?
On the face of it, the UK government has made good progress in implementing the actions of its 2019 Economic Crime Plan. According to one study, 80% of the actions…
Our national priorities
The claws of corruption have engulfed us, and its force is getting stronger with each passing day. Although the incumbent government came into power with the slogan of eliminating corruption,…
Leaks and challenges—II
White collar crime investigations need special expertise to deal with different nature of financial crimes. However, our top institutions, such as National Accountability Bureau (NAB) that takes pride being autonomous,…
Amendment in FATF Recommendation 23
Recommendation 18 of the Financial Action Task Force (FATF) requires that financial institutions should implement programmes against money laundering and terrorist financing and that financial groups should implement group-wide programmes…
Fear of unfair accountability
Pakistan’s public management and accountability system is perhaps on the verge of collapse. The system is breaking down with dysfunctional bureaucracy and institutions. Very few officers and institutions are willing…
Shades of ‘Grey’ of FATF
Task “forced”. Technicalized. Politicized. These are examples of vocabulary being used for the latest FATF decision of retaining Pakistan in grey list. The problem is that by FATF’s own evaluations…
The FATF challenge
The importance of risk-based approach in curtailing the movement of illicit flows of funds is paramount. The significance of this approach is also stressed in recommendations of Financial Action Task…
Recouping tax losses judiciously — I
“Judicial overreach is when the judiciary starts interfering with the proper functioning of the legislative or executive organs of the government. This is totally uncharacteristic of the role of the…
