The government has announced a major crackdown on illegal overseas remittances and the hundi network. Authorities warned that no leniency will be shown to anyone involved in money laundering or unlawful fund transfers.
The decision came during a special meeting held in Lahore, chaired by Federal Interior Minister Mohsin Naqvi and Finance Minister Muhammad Aurangzeb. Officials resolved to launch a comprehensive crackdown on major businesspersons and institutions moving funds abroad through illegal channels.
A joint working group will be formed, including the State Bank of Pakistan and the Federal Investigation Agency. The group will monitor all fund transfers and enforce regulations to ensure compliance.
Authorities emphasized that all funds must now be sent only through authorized banking and legal channels. Illegal fund transfers via money changers or other unofficial methods will be strictly prohibited. The process for legitimate overseas remittances will be streamlined to make transactions safe, transparent, and efficient.
Officials warned that those involved in transferring funds illegally will face strict action. The crackdown is designed to curb money laundering, discourage unauthorized fund transfers, and strengthen the country’s financial integrity.
The interior and finance ministers reaffirmed that the hundi business will not be tolerated under any circumstances. The working group will regularly review progress, track illegal fund transfers, and ensure strict enforcement of laws.
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This move reflects the government’s broader strategy to secure the financial system and prevent illicit fund flows. By enforcing strict measures, authorities aim to ensure that all funds moving abroad are transparent, legal, and monitored.
