ISLAMABAD – In a significant move against international money laundering, the National Accountability Bureau (NAB) Karachi has successfully attached two foreign bank accounts belonging to accused Ahmed Ali Riaz and Mubashira Ali Malik located in Silver Bank, Mauritius.
The attachment was carried out under the Anti-Money Laundering Act (AMLA), 2010, following formal authorization and permission granted by the Accountability Court, Karachi.The Bureau’s investigation established that M/s Bahria Town Pvt Ltd utilized an illicit Hawala/Hundi network within Pakistan to launder crime proceeds out of the country.
These funds were initially transferred to UAE and subsequently laundered to Mauritius, where the crime proceeds originating from Pakistan were placed in joint bank accounts. A total of USD 4.5 Million is currently lying in these accounts, which have now been legally frozen as part of the ongoing pursuit of asset recovery.
NAB has initiated legal proceedings through Foreign Office and is at advance stage for the forfeiture and repatriation of the stolen funds in accordance with the provisions of the Anti-Money Laundering Act, 2010. This action reaffirms NAB’s commitment to pursuing illicit assets across jurisdictions and securing their recovery through international cooperation.
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