CUSTOMS LAUNCHES PROBE INTO UNDER-INVOICING AND MONEY LAUNDERING INVOLVING UAE-BASED COMPANY

Islamabad, Special Report: The Directorate of Customs has initiated a comprehensive investigation into alleged under-invoicing and trade-based money laundering involving M/S Interlink Trade FZC, a UAE-based company, and its Pakistani counterpart, M/S Interlink Corporation (NTN 3026149) based in Lahore.

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According to official documents, M/S Interlink Trade FZC exported ice cream flavors belonging to renowned brands such as Dunkin’ Donuts and Baskin-Robbins, as well as Ahg Food’s ice cream products, to M/S Interlink Corporation in Lahore at significantly under-invoiced values ranging from $3.4 to $3.5 per kilogram. The goods were directly shipped from the USA to Pakistan, with the UAE-based company issuing sales invoices at deflated values.

The Customs authorities have sought assistance from the Financial Monitoring Unit (FMU) of the State Bank of Pakistan to obtain crucial money-trail information related to the transactions, including bank account details, transaction records, and correspondent banking relationships.

The investigation, led by the Directorate of Customs’ Directorate General of Intelligence & Investigation, aims to uncover evidence of under-invoicing and trade-based money laundering. The probe will also examine the role of M/S Interlink Corporation in the alleged scheme.

The case highlights concerns about the misuse of international trade for money laundering and terrorist financing. The Customs authorities have vowed to take strict action against individuals and companies involved in such practices, which undermine Pakistan’s economy and compromise national security.

The investigation has ongoing, and more details are expected to emerge in the coming days.