KARACHI: The National Accountability Bureau (NAB) Karachi has frozen foreign bank accounts worth $4.5 million (more than Rs1.26 billion) in Mauritius under the Anti-Money Laundering Act 2010.
In a major action against international money laundering, NAB Karachi seized two foreign bank accounts allegedly linked to the owners of Bahria Town and maintained at Silver Bank in Mauritius.
The action was taken under the Anti-Money Laundering Act 2010 after obtaining formal permission from the Accountability Court in Karachi. Investigations revealed that a private housing society allegedly transferred funds from Pakistan abroad through an illegal hawala/hundi network.
According to investigators, the funds were first transferred to the UAE and subsequently moved to Mauritius, where they were kept in joint bank accounts. These accounts contain a total of $4.5 million, which has now been legally frozen as part of ongoing asset recovery efforts.
The NAB has initiated legal proceedings through the Ministry of Foreign Affairs for the seizure and repatriation of funds, with officials saying that the process is now in its final stages.
