In a significant development in Pakistan's ongoing crackdown on money laundering and illicit financial flows, authorities have frozen foreign bank accounts worth $4.5 million in Mauritius linked to Bahria Town, marking a major step forward in the country's asset recovery efforts.
Details of the Frozen Accounts
According to National Accountability Bureau (NAB) sources, two foreign bank accounts held at Silver Bank in Mauritius in the names of Ahmed Ali Riaz and Mubashra Ali Malik have been frozen following formal approval from an accountability court in Karachi under the Anti-Money Laundering Act, 2010.
NAB sources said the action was taken as part of an investigation into alleged money laundering and illegal transfer of funds abroad. The funds are suspected to have been moved out of Pakistan through an unlawful hawala-hundi network before being routed through the United Arab Emirates and eventually transferred to Mauritius.
Investigators believe the money, allegedly derived from criminal proceeds, was deposited into joint bank accounts in Mauritius. Authorities confirmed that the accounts currently contain approximately $4.5 million, which have now been legally frozen as part of ongoing asset recovery proceedings.
International Legal Proceedings
Sources further disclosed that NAB has initiated formal international legal proceedings through Pakistan's Ministry of Foreign Affairs to secure the confiscation and repatriation of the funds. Officials said efforts to seize the assets and return the money to Pakistan under the Anti-Money Laundering Act have entered their final stages, reflecting what NAB described as its commitment to pursuing illegally acquired assets across international jurisdictions.
The development underscores growing cooperation between Pakistani authorities and foreign institutions in tracing, freezing and recovering assets allegedly transferred abroad through illicit channels, officials added.
