New software introduced to monitor anonymous bank accounts : SBP

A notification will also be reported to the bank headquarters.

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  • In the old system, all the work was being done manually.
  • With the new software, any new, big transactions or deliveries and all the relating details will automatically be monitored.
  • A notification will also be reported to the bank headquarters.

For monitoring of anonymous bank accounts, new software has been introduced. The new software will be able to report all big deliveries and transactions.

In the old system, all the work was being done manually. First, it was being investigated who had anonymous accounts. This procedure had a limit, any person who had more than Rs. 1 crore in their account, their name would be sent to FIA and FBR, etc.

These agencies would then critically observe the account owners. An entire investigation would be performed by these agencies on the account holder.

The process made easier with the new software:

However, now all this procedure has been made easy by the new software. With the new software, any new, big transactions or deliveries and all the relating details will automatically be monitored. And through the internet, FIA, FBR, FMU, and State Bank will be notified of the action. A notification will also be reported to the bank headquarters.

Money trails will then be asked from the account holders, if they are unable to explain the money trail then special hearing court sessions will take place. The sessions will be supervised by professionals. Whoever anonymous bank account belongs to and those who have helped open these accounts will be considered guilty.


Also See: 
FBR To “Provide Relief To The Common Man” By Slashing Duties On Mobile Phones Import

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