Transaction Worth Rs 460 Crore Done in Dead man’s Account!

So stopping black money and corruption is the priority of any nation, but if a transaction worth 460 Crore in total are happening through the account of a dead man, you better amplify your efforts to stop black money and corruption. Iqbal Aaraiyn, a resident of Karachi, Pakistan, who passed away on May 9, 2014, had three bank accounts mysteriously opened under his name after his death and a total of Rs 460 crore worth of transactions were made through three bank accounts.

Such incidents are not happening for the first time as recently series of mysterious deposits in bank accounts of several individuals have surfaced. Federal Investigation Agency investigated into several individual accounts, which have been used for money laundering by some influential businessmen and politicians.

In another incident found that Rs 300 crore worth of transactions were made to the bank account of an auto rickshaw driver in the city. The driver, identified as Muhammad Rasheed, only understood the huge transactions in his account when the FIA summoned him for an explanation.