Customs authorities in Karachi have uncovered a trade-based money laundering scheme worth billions of rupees, carried out through fraudulent imports of internet routers under the names of two suspected paper companies.
Investigators found that a combined 71,815 routers were imported under the two companies. The total value of the imported goods is estimated at approximately Rs2.21 billion. Both firms face serious allegations of being fake entities existing only on paper.
According to Customs officials, the import and registration credentials of the two companies were allegedly being operated or misused by other individuals. Officials also noted a clear mismatch between the financial capacity declared by the companies and the scale of imports recorded under their names.
As part of the investigation, Customs has withheld 10 Goods Declarations (GDs) relating to the import of routers without Pakistan Telecommunication Authority (PTA) Type Approval. The investigation into the matter is ongoing.
