Pakistan Customs has uncovered imports worth Rs. 3.2 billion allegedly carried out through two fake companies in a suspected trade-based money laundering case. Authorities have proposed forming a Joint Investigation Team (JIT) to investigate the companies, their operators, and possible illicit financial transactions.
The investigation began after Customs detected 71,815 internet routers imported without mandatory Pakistan Telecommunication Authority (PTA) certificates. Officials identified 10 goods declarations and confiscated the consignments after finding violations of import requirements.
Customs Uncovers Fake Company Network
Investigators later found that several individuals claimed portions of the goods and requested separate releases. Consequently, Customs examined the two companies and discovered that both allegedly operated as paper entities through front men.
One company listed a rice and flour shop as its registered address, while the other used a rented family home. Furthermore, one firm had registered with the Federal Board of Revenue as a service provider instead of an importer.
Under-Invoicing Raises Further Concerns
Customs found that the companies accessed their WeBOC accounts through thousands of different IP addresses. The two firms reportedly shared 1,048 IP addresses, raising questions about multiple undisclosed operators controlling their import activities.
Officials also found significant differences between declared and assessed values. Customs increased the declared value of the routers from Rs. 97 million to Rs. 565 million, while the companies reported around Rs. 2.9 billion in local sales but paid almost no sales tax.
Meanwhile, the companies shared 108 local buyers and 12 foreign suppliers. Customs has recommended a JIT involving Customs, Inland Revenue, and the Federal Investigation Agency to investigate potential money laundering and beneficial ownership violations.
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