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Monday, October 1st, 2018

 

$10 Billion a Year Money Laundering Pipeline

DR. FARRUKH SALEEM: In March 2017, the US Department of State released its ‘International Narcotics Control Strategy Report’. According to the Report, “The international community loses hundreds of billions of dollars every year due to trade-based money laundering…The practice also costs Pakistan more than $10 billion a year”. Imagine: $10 billion a year times 10 years would mean $100 billion. How much is $100 billion? As per the State Bank of Pakistan (SBP), “Foreign debt and liabilities soared around 14 percent to $95 billion in the fiscal year ended JuneRead More