Tag: FIA

  • SBP for close liaison to fight cyber-attacks, online frauds

    SBP for close liaison to fight cyber-attacks, online frauds

    KARACHI: Dr. Reza Baqir, governor, State Bank of Pakistan (SBP) on Saturday held talks with Federal Investigation Agency (FIA) and banks to fight money laundering, cyber attacks, and online bank frauds.

    Governor State Bank of Pakistan, Dr. Reza Baqir, chaired a meeting today with Director General FIA Sanaullah Abbasi to strengthen and coordinate efforts of SBP, banks and Federal Investigation Agency (FIA) to fight money laundering, cyber-attacks and online frauds. The meeting was also attended by the Presidents of Banks and senior officers of FIA and SBP.

    Governor SBP emphasized the need for close cooperation amongst banks, SBP, and FIA so those white-collar crimes are expeditiously investigated and fraudsters are apprehended and prosecuted.

    SBP has taken several measures in the recent past to strengthen its work on Anti-money Laundering (AML) as well as taken regulatory and supervisory measures to improve banks’ controls to prevent digital and social engineering frauds.

    In addition to better controls at the level of Financial Institutions and enhanced customers awareness, effective investigation and prosecution of criminals is needed to substantially reduce incidences of money laundering, digital frauds and cyber-attacks.

    FIA team offered support in strengthening cyber security at banks and suggested banks carry out an Information Security (IS) audit of their systems. Welcoming the suggestion SBP informed that as per existing regulations banks are required to regularly carry out their information system audit and penetration testing, however, it would be reemphasized to the industry through PBA.

    The meeting identified key follow-up areas and associated timelines for strengthening cooperation between SBP, FIA, and banks in these areas.

  • FIA making all-out efforts to resolve cyber crime related complaints: DG

    FIA making all-out efforts to resolve cyber crime related complaints: DG

    KARACHI: The Federal Investigation Agency (FIA) is making all out efforts to resolve complaints related to cyber crime.

    FIA Director General Dr. Sanaullah Abbasi said this at a meeting with members of Karachi Chamber of Commerce and Industry (KCCI).

    According to a statement issued on Saturday by the KCCI, the DG FIA briefed the business community about initiatives taken for promptly dealing with digital banking and cyber crime cases.

    “Cybercrime has been rising as we are receiving a lot of complaints. Hence, we are making all out efforts and will try our best to resolve such complaint at the earliest,” he added.

    To a suggestion, he assured to look into the possibility of providing online facility for hearing to the members of business community to save them from travelling all the way to FIA circles in far-flung areas.

    “This online hearing mechanism could be set up for handling cases/ notices being received from faraway circles all over Pakistan to minimize the hardships being faced by business community,” he added while speaking at an online meeting.

    The meeting was attended by General Secretary BMG AQ Khalil, President KCCI Shariq Vohra, Chairman Law & Order Subcommittee Junaid-ur-Rehman, Former Presidents KCCI Majyd Aziz & Iftikhar Vohra, Director FIA South Amir Farooqi, KCCI Managing Committee Members and FIA officials.

    DG FIA Sanaullah Abbasi stated that it was the motive of FIA to fully serve and facilitate the business community.

    He nominated Director FIA South Amir Farooqi as the focal person for dealing with complaints raised by the Karachi Chamber.

    General Secretary BMG A.Q Khalil underscored the need to simplify the visa on arrival facility at the airports. He said the foreigners, particularly businessmen face immense hardships in availing this facility.

    “Under the existing policy, a Deputy Director of FIA is responsible for either issuing or rejecting visa to any foreign investor without consulting with any Chamber of Commerce or relevant local businessmen.

    “Such bureaucratic hurdles create a lot of problems and at many occasions as some of the credible foreign investors face deportation that needs to be given special attention as it sends a negative message about Pakistan,” he added.

    He further advised DG FIA to publicize the progress reports and achievements in dealing with the menace of cybercrimes as a lot was being claimed but nothing much has been publicized.

    “Pakistan has remained in the grey list of FATF from quite some time now and we are not much acquainted about our shortcomings whereas it has also been observed that FIA has been constantly intervening in business transactions hence, the FATF conditions for money laundering have to be effectively highlighted so that the business community could comply to the same and accordingly carry out their transactions,” AQ Khalil suggested.

    President KCCI Shariq Vohra pointed out large number of notices issued by the FIA. “… we request DG FIA to also take look into the matter of large number of notices being issued to the members of the business community by FIA which are a major source of harassment,” he added.

    Expressing deep concerns over notices being issued to KCCI members from FIA circles in Multan, Faisalabad and other far-flung areas where FIA officials ask relevant businessmen to appear physically for hearing or face severe consequences.

    Chairman of KCCI’s Law & Order Subcommittee Junaid ur Rehman underscored to devise an effective mechanism for holding all such hearing in Karachi and if the cases were found not so serious, these should be immediately disposed of without creating more difficulties for businessmen and industrialists.

    He also requested DG to enhance the capacity of system implemented for handling the cases pertaining to digital banking crimes and make it more efficient.

  • FIA arrests former PIA executives for illegal appointment

    FIA arrests former PIA executives for illegal appointment

    KARACHI: Federal Investigation Agency (FIA) Corporate Crime Circle, Karachi has arrested former executives of Pakistan International Airlines (PIA) in an illegal appointment case, a press release said on Saturday.

    It said that the FIA, CCC, Karachi on October 15, 2020 registered FIR against accused Aijaz Haroon, former Managing Director, PIA; Salim Sayani, former DMD, PIA and Haneef Pathan, former Director (HR), PIA on the charges of illegal appointment of Salim Sayani as DMD in PIA in 2009 in violation of PIA HR Rules.

    It said that accused Salim Sayani is Pakistani origin USA national.

    It further said that huge salaries of $20,000 per month and other perks and privileges were offered to accused Salim Sayani.

    The accused Aijaz Haroorn, former MD PIA and accused Hanef Pathan, former Directo (HR), PIA have been arrested in the case, the statement said.

  • Prize bonds, bearer instruments to be registered

    Prize bonds, bearer instruments to be registered

    KARACHI: Pakistani authorities have assured International Monetary Fund (IMF) of registering prize bonds and other bearer instruments to eliminate the use of these instruments in potential illegal activities and tax avoidance.

    The IMF issued Pakistan country report on Monday following successful $6 billion loan program.

    In order to make the program successful the Pakistani authorities had assured the fund of strengthening governance and the control of corruption.

    The priorities include:

    Strengthening the effectiveness of anticorruption institutions. A national committee has been established to implement the recommendations from the UNCAC 2017 report.

    A task force will review the institutional framework of the anticorruption institutions to enhance their independence and effectiveness in investigating and prosecuting corruption cases.

    A study will be conducted on establishing a dedicated AML unit in the Federal Investigation Agency (FIA). Upgrading the financial investigation capacities of law enforcement agencies will be also prioritized.

    Moreover, the authorities are pursuing agreements on information exchange with foreign countries to complement efforts to recover unlawful assets.

    An Asset Recovery Unit in the Prime Minister’s Office is cooperating with the FBR’s International Taxation Unit in identifying assets abroad owned by Pakistani residents, in line with the OECD Convention on Mutual Administrative Assistance on Tax Matters.

    Advancing anti-corruption efforts through the enhanced used of AML tools, including by (i) ensuring that banks and other reporting institutions improve their capacities to identify politically exposed persons and apply enhanced due diligence measures and (ii) providing adequate resources to the Financial Monitoring Unit to improve the dissemination of financial intelligence that can be used to support corruption investigations.

    Moreover, asset declarations of high-level public officials will be comprehensive in scope (i.e., assets beneficial owned or located abroad), filed with a central federal agency, electronically searchable, and appropriately verified.

    “Registering prize bonds and other bearer instruments to eliminate their use in potential illegal activities/tax avoidance,” the report said.

  • Prime Minister constitutes commission to probe Rs24 trillion borrowing in ten years

    Prime Minister constitutes commission to probe Rs24 trillion borrowing in ten years

    ISLAMABAD: Prime Minister Imran Khan on Tuesday constituted a commission to probe the unprecedented borrowing of Rs 24 trillion during past ten years and to set an example for those who looted the country.

    In a nationwide televised address, hours after the announcement of the national budget Prime Minister Imran Khan said, “Pakistan today was economically stable … I will now go after all of them [the leaders of PPP and PML-N] and take them to task for ruthlessly plundering the national wealth.”

    “I will make them answerable. I will investigate, and I will not spare them even if it is a threat to my life,” Imran said, after the national budget in which the government withdrew subsidies on many sectors and taxed almost all the sectors.

    The commission will comprise of officials from Federal Investigation Agency (FIA), Intelligence Bureau (IB), ISI, Federal Board of Revenue and Securities and Exchange Commission of Pakistan (SEC).

    The prime minister said that his PTI led government had present maiden budget and it would reflect the manifesto of the party.

    Talking about the latest arrests of political leaders, he said that no one ever think about these stalwarts behind the bars.

    He said that today the judiciary and National Accountability Bureau (NAB) are independent. He said that cases against PML-N leaders were not instituted by his government. “Yet they blame me for their arrests,” he added.

  • Asset recovery unit receives certified copies in judges’ references

    Asset recovery unit receives certified copies in judges’ references

    ISLAMABAD: The Assets Recovery Unit of the Prime Minister’s Office received a complaint/information in respect of the foreign properties of three learned Judges, said a statement on Sunday.

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  • FIA summons fashion designers in PIA premier service case

    FIA summons fashion designers in PIA premier service case

    KARACHI: Federal Investigation Agency (FIA) has summoned leading fashion designers in inquiry related to losses to PIA in Premier Service Operations.

    The FIA summoned the fashion designers in connection that PIA had acquired their services for design of ‘PIA Premier Service Uniform’ for its cabin crew.

    The agency said the designers were acquainted with the facts of the enquiry. Therefore, the designers have been asked to record their statements on April 03 and 04.

    The designers are included Noman Ansari, Yasmin Sheikh, Saniya Maskatiya and Pinto Kazmi.

    Sources said that the PIA acquired services of these designers in 2015. The PIA organized a fashion show abroad for the uniforms designed by such designers.

    The sources said that the PIA issued large number for free tickets to members of a local television channel.

  • PM directs FBR, FIA to stop harassment in amnesty scheme cases

    PM directs FBR, FIA to stop harassment in amnesty scheme cases

    Prime Minister Imran Khan has taken a decisive step to ensure that businessmen who availed the income tax amnesty scheme and fulfilled all codal formalities are not subjected to harassment.

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