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CBCM detects cases of money laundering amounting to Rs1b: Director Waheed Marwat

CBCM detects cases of money laundering amounting to Rs1b: Director Waheed Marwat

ISLAMABAD: The Directorate of Cross Border Currency Movement detected new cases of money laundering amounting to Rs1 billion during its initial period of three months.
Talking with Customs Today Director of Cross Border Currency Movement (CBCM) Waheed Marwat said that money laundering act was introduced in 2010 and Directorate General of Customs Intelligence and Investigation was nominated for work under this Act, during 2010 to October 2019 the said department registered 06 cases of money laundering whereas CBCM (Cross Border Currency Movement) with coordination of FIA (federal investigation agency), SBP (state bank of Pakistan) and CTD (counter terrorism department) has been registered 07 new cases in worth of Rs.170 million during few months whereas newly established Directorate of CBCM is working on 55 new cases while in mean time it has shared that gathered information with relevant Regional Directorates for further actions these cases are worth of over billions of rupees.
He told that newly established Directorate is facing understaffing while staff’s capacity issue is also have to overcome for satisfactory outcome, he informed that Directorate’s sanctioned strength was 2 Additional Directors and 03 Deputy Directors while CBCM is working with just two officers the Director of CBCM Waheed Marwat and Deputy Director Wajid Zaman whereas with all of these deficiencies the Directorate showed outstanding performance, under Foreign Office the CBCM has been signed MOU (memorandum of understanding) with UAE (United Arab Emirate) whereas Rashid Munir Secretary FATF (financial action task force) cell of FBR will bring the details of 32 cases of money laundering during his official visit to UAE in next week.
He said that another MOU with the Afghan Government is under process, in this regards Foreign office of Pakistan has been sent details of MOU to the Afghan Government, he added that Directorate have been shared the feature of people who intercepted at Chaman and Torkham international borders involve in money laundering, he informed that Deputy Director Wajid Zaman of CBCM will also visit to Afghanistan along with other details relating with cross border money laundering issues very soon.

Replying to a query he said that the Directorate was established in June 2019 while after allocation of budget it turn into functional in month of August 2019 whereas during very small period August to December the Directorate made many important initiative i.e. it nominated focal persons at Customs Collectorate and Directorate level for better coordination among each other as well as with the CBCM on money laundering and currency smuggling, he added that CBCM also coordinate with said Collectorates and Directorates regarding their court cases connecting with currency smuggling to get update information, the CBCM have its future plan to open its branches in Lahore, Karachi and Peshawar, the CBCM required to make a software to run the CBCM paperless whereas through this software CBCM would able to provide live updates about cases relating with currency smuggling with FIA, SBP and CTD Waheed informed.

He further told that CBCM have conducted training sessions for 150 Customs airport staff appointed at Quetta, Lahore, Islamabad and Karachi for purpose to provide them latest information about new techniques of money laundering and currency smuggling bring into play by the smugglers so the staff could meet the required expertise to cope with notorious elements involved in currency smuggling and terror financing, he added that CBCM have planned to provide trainings sessions to FC and police officers on money laundering and currency smuggling with collaboration of DOT (directorate of training).
Waheed said that FBR has established FATF Cell under supervision of Asad Razvi who work for making policies against requirements of FATF while CBCM is working for operation level, he added that the Customs department has completed its task and handed over it to SBP for next coming meeting of FATF which will held in month of January 2020.
He told that Directorate of CBCM has been established a research centre at its Islamabad where all the information relating with money laundering and currency smuggling is provided by the Customs Directorates and Collectorates within 14 days of seizure while the CBCM shared said information including photographs of offenders arrested in currency smuggling cases with other LEAs (law enforcement agencies). Ends