An STR was reported to FMU by an Exchange Company on Mr. K for frequently receiving foreign remittances from multiple unrelated individuals belonging to different countries Philippines, Spain, Italy, USA.
Mr. K was resident of Peshawar and declared himself as self employed. During analysis of remittances received by Mr. K, it was observed that the Mr. K had received three remittances from an individual namely “Mr. G” who was based in Italy. The purpose of remittances was gift and the total amount of funds involved was PKR 374,666/-
While conducting search on risk screening database it was identified that the remitter “Mr. G” was positively matched for alleged links with Italian Organized Criminal Group which was also involved in drug trafficking related crimes Keeping in view Mr. G’s alleged links with organized criminal group, it was suspected that the proceeds remitted to Mr. K might be related to drugs trafficking.
Based on above analysis, the financial intelligence was shared with Anti-Narcotics Force under the AML Act, 2010 for any action deemed appropriate.