Muhammad Rafique Case
|The Financial Action Task Force (FATF) grey-listed Pakistan due to the latter’s non-compliance with the United Nations Security Council Resolution (UNSCR)-1267. The FATF also demands Pakistan put strict controls on money laundering and financial lifelines of terrorist organizations in Pakistan. Although Pakistan has completed 26 of the 27 action items in its 2018 action plan.|
Since June 2021, Pakistan has taken swept steps towards improving its AML/CFT regime and completed 6 of the 7 action items ahead of any relevant deadline expiring, including by demonstrating that it is enhancing the impact of sanctions by nominating individuals and entities for UN designation and restraining and confiscating proceeds of crime in line with Pakistan’s risk profile. Pakistan continued to work to address the one remaining item in its 2021 action plan by demonstrating a positive and sustained trend of pursuing complex ML investigation and prosecution and Muhammad Rafique’s case played a milestone role in that.
Muhammad Rafique was a former Accounts Officer of IESCO Sub-Division-I, Islamabad, who in other allegedly prepared and posted bogus scrolls related to IESCO Consumer Bills using fake bank statements along with bill stubs with fake bank stamps of an amount of Rs.43 Million (approximately) in the month of June 2019 only. The IESCO Departmental Inquiry Committee through their interim report concluded that a sum of Rs.207, 752,411/- was embezzled for the period of July. The judgment sheet of this case (Para 6(iv) of sheet) declared Muhammad Rafique as a culprit which expressed that Pakistan is way more serious and determined to coup up with money laundering. We are looking forward to growth in peace and economy after Pakistan’s name taking out of the FATF grey list.