The Lahore High Court has issued a detailed judgement on a case of money laundering based on tax evasion.

The court said the tax evaders cannot escape criminalization and confiscation of proceeds of crime under the Anti-Money Laundering Act 2010, according to a press release. In a landmark judgement, the court in a writ petition No 16567 of 2021 and more than 180 connected petitions issued a detailed judgement on Sept 10 in favour of the FBR.

The petitioners challenged filing of FIRs under the Anti-Money Laundering Act 2010 by the three regional directorates (Lahore, Faisalabad and Multan) of the Directorate General Intelligence and Investigations  Inland Revenue. The court dismissed such writ petitions.

Other petitioners challenged the summons issued under section 160 of the CrPc and the court also dismissed these. In another case, the petitioners challenged the callup notices (preliminary inquiry) duly supported with detailed reasons. The court allowed such writ petitions but held that the record or evidence already collected during investigation could be utilized in case fresh notices were issued.

Overall, the court scrutinized the AML regime and upheld the vires of notifications issued by the federal government and the SOPs issued by the Directorate General I&I IR.

The judgement, said the press release, will further strengthen the anti-money laundering regime of Pakistan and is also a testimony to the fact that the AML regime is not only sustainable but also effective in curbing the menace of money laundering.

Credit : Independent News Pakistan-WealthPk