Analysis Of Different Cases Of Money Laundering

Background:

Historically, money laundering has been around in some structure for a long time, when Chinese vendors burned cash through different organizations and complex money related exchanges to conceal the pay from government civil servants, who tried to decorate the salary.

A few students of history tie the expression 'illegal tax avoidance' all the more conspicuously to the mid 1900's and hoodlums like Al Capone, who is said to need to purchased up Laundromats to pipe messy cash (from exercises like bootlegging and prostitution) through the Laundromats and blend the money in with authentic business salary. In that manner, Capone and different criminals had the option to conceal the cash from law specialists

It wasn't until some other time in the twentieth century when law implementation tied the expressions 'money' and 'laundering' together - halfway to recognize group individuals, street pharmacists, Mafia bosses and other criminal components that masked the wellspring of money earned unlawfully, and laundered that money into real and legitimate assets.

As indicated by legend, the term money laundering was started in 1920's during the time of prohibition in the United States. The gangs in the United States got extraordinarily associated with the profitable alcoholic smuggling industry and for sanctioning their benefits they began joining their benefits with the benefits from administrative business. In any case, as indicated by Robinson, the term was first utilized in 1973 in connection with the Watergate outrage. He says this case portrays the money laundering flawlessly in spite of its cause.

Topic

Khanani and Kalia Money laundering case:

Analysis

This case is about the fraud of transferring of Rs 39bn from abroad to Lahore by KKI. Money changers Javeid Khanani and Munaf kalia were arrested because of it. They admitted that they were requested by several locals to transfer their currency to their relatives living abroad. This smuggling caused a huge downfall in countries foreign reserves. The top management had a consent were aware of all the illegal activities that were carried out. Different reports and media searchers helped in highlighting this issue. Due to which KKI was found guilty of it. There management was handled by Javeid Khanani and Munaf kalia. This money was used by arm dealers, drug cartels and terrorists.

FIA had raided seven exchange companies but no action was taken except for the KKI. 24 exchange companies had been given the licenses. To set the example for other companies SBP and SECP suspended the licenses of those companies as well.

Conclusion

After the 9/11 terrorist incidents in the US and the start of WAR OF TERROR hawala and hundi, quick money transfer system was banned. This system was found cost effective and hassle free by many traders. Investigators even say that the funds used for Indian bombing in 1993 ran through the KKI. This case clearly shows how $11bn was bought back to Pakistan in Foreign currency accounts involved in unethical and illegal activities.

Topic

Ayyan Ai Money laundering case:

Analysis:

This case is about a female model who was arrested at airport because she was carrying $500,000 in cash and was trying to smuggle it to the UAE. Ayyan Ali's ongoing discharge on bail has gotten broad media inclusion. For some, the way that she has in the long run been allowed bail isn't amazing in a general public where claimed crooks will in general be conceded bail for increasingly terrible criminal offenses

There is by all accounts a general observation that once a supposed guilty party has been discharged from jail on bail it infers that the body of evidence against such individual is either feeble and needs proof or the indictment has lost enthusiasm for the issue. This isn't really right.

We have to comprehend that in connection to bailable offenses the Courts have the prudence to allow bail (subject to specific conditions and in specific conditions) and this doesn't infer absolution. An individual discharged on bail can be captured again and still needs to stand preliminary and demonstrate his/her guiltlessness or generally face the outcomes.

The postponements in our equity framework and the expanding excess of cases are maybe to fault for the previously mentioned recognition. Albeit each endeavor ought to be made to guarantee that an honest individual doesn't invest any energy in a correctional facility and the standard of honest until demonstrated liable wins, notwithstanding, the Courts should practice the privilege to allow bail with alert in situations where there is clear proof of wrong doing.

Conclusion:

This news was covered by almost all news channels because of involvement of a model. Research shows that for all news channels model was used as decorative element of entertainment. They were more interested in her makeup her dress and her walking style. Tattoo covering her body was also discussed. Appearance of Ayan Ali shouldn’t be given any importance. Her physical appearance was used for attracting viewers and engaging them in their highlights.