The State Bank has blocked the suspicious transactions of $65 million originating from Malaysis after finding a suspicious transaction report (STR).
The National Action Plan on counter-terrorism requires strict monitoring of banking transactions and active coordination among federal and provincial investigation agencies. So far about 500 accounts are reported to have been frozen under the Anti-Money Laundering Act (AMLA) and the counter-terrorism financing law.
According to the sources, the Federal Investigation Agency (FIA) has sought the blocking of the transaction under the law till complete satisfaction of the authorities concerned.
Reports claimed that the money had been sent to the Peshawar account for onward investment in the newly launched housing scheme in Karachi.
Under the Anti-Money Laundering Act (AMLA), banks and financial institutions are required to report suspicious transactions to the FMU.
