FBR uncovers Rs9.41bn wealth statement fraud, registers money laundering case

Business Recorder reported that the Federal Board of Revenue has exposed a scheme in which wealth statements were altered to bring in Rs9.41 billion of unexplained holdings. A criminal case has been filed under the Anti-Money Laundering Act, 2010, after the Directorate General of Intelligence and Investigation (Inland Revenue) detected the scheme by analysing the FBR database with help from Pakistan Revenue Automation Limited (PRAL).

The review flagged 85 taxpayers who amended their wealth statements between March 2025 and June 2026 for tax years 2014 to 2019. They added cash that had never been declared, gold, prize bonds, property and business capital to those statements. FBR noted that wealth statements may not be altered once five years have passed since the original return fell due, and every change in these cases fell outside the permitted window.

In one Lahore case, a taxpayer amended the statement covering tax year 2015 back in May 2026 and inserted Rs102.8 million of fictitious funds. The sum was rolled into later statements through tax year 2025 and used to account for seven properties valued at Rs64.41 million, all acquired in May and June 2026. The taxpayer could not justify where the money came from, and FBR said the tax at stake exceeds Rs46 million. Regional units have opened 48 criminal inquiries nationwide, and FBR warned that those hiding unexplained wealth face penalties and prosecution.