Lahore (HRNW)-\u00a0The government has decided to launch a major nationwide crackdown against money laundering and hawala hundi operations to curb illegal financial activities.<\/p>\n
The decision was taken during a high-level meeting chaired by Interior Minister Mohsin Naqvi and Finance Minister Muhammad Aurangzeb, where authorities agreed on strict and indiscriminate action against those involved in illegal money transfers.<\/p>\n
It was decided that no concession will be given to any individual, business group, or institution found sending money abroad through unlawful channels. The government emphasized that funds can only be transferred through banking and other legal systems, while the role of money changers will be regulated and streamlined.<\/p>\n
The meeting also agreed to make the entire mechanism of foreign remittances more transparent and foolproof, ensuring that all illegal channels are discouraged at every level.<\/p>\n
Officials stressed that major money launderers will face strict action and that the hawala hundi business will not be tolerated under any circumstances.<\/p>\n
To ensure effective implementation, a joint working group comprising the State Bank of Pakistan and the Federal Investigation Agency (FIA) will be established to regularly monitor and review progress.<\/p>\n
During the session, the Governor of the State Bank briefed participants on the current remittance system through banking channels. The meeting was also attended by the DG FIA and Federal Secretary Finance.<\/p>\n
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