The great detective Sherlock Holmes would consider it quite a “three-pipe problem”
We are well accustomed to ghost-schools, ghost-teachers, ghost-pensioners and even ghostlier projects, but ethereal bank accounts still stretch the most credulous nature. So imagine the consternation and shock of prominent lawmakers Raza Rabbani, Khursheed Shah, Ayaz Sadiq, Aitzaz Ahsan and Maulana Fazl ur Rehman when informed of deposits and transactions of millions of Rupees in accounts bearing their names, about which they had not the slightest clue or connection. Financial bloodhounds of the State Bank and the Federal Investigation Agency have been unleashed to get to the bottom of the great hoax and its methodology, motives and ends. Character assassination, money laundering or terrorism, even?
Meticulous modern banking procedures make this swindle more bizarre and surreal. Opening an account is a severe and tedious process, involving an introduction, original CNIC, photograph, proof of profession or business, specimen signatures, and other verifications before the banker signs the application form. A landmark London High Court decision is a warning for all bankers everywhere, ‘the bank acted negligently as it was guilty of not taking reasonable precautions before opening the account’.
The case should not present too many difficulties for the investigators because the banker opening the account is directly responsible for any later fraud. Second, the transactions will have a documented money trail of the actual payer and payees, unlike another ongoing high-profile case which has confounded judges, lawyers and laymen alike.
