Prime Minister Imran Khan highlighted the western role in money laundering in his address at United Nation’s general assembly.
The speech was well-crafted regarding the issue of Kashmir, Islamophobia, and the respect of Prophet Muhammad (SAW).
However, people undervalued part of his address in which he questioned the negligence of the western world in the matter of money laundering.
Khan pointed out that the stolen money from underdeveloped countries lands in the western capitals of the world. And unfortunately, the western governments do nothing to curb this dirty exercise.
He said that money laundering increased the gap between rich and poor. It slowed down the progress of developing countries including Pakistan.
Absolutely true. The money laundering played a vital role in Pakistan’s economic crisis and debt piling.
A question comes in mind, why do the corrupt always choose countries like the United Kingdom, France, or Switzerland to safeguard their ill-gotten money?
Because western regimes are lenient towards inbound capital and don’t care much about the source.
And what if you trace these properties and assets and try to retrieve it?
Well, that’s one hell of a task because, even if you prove the illegality, it’s challenging to get it back from the west.
Unexplained Wealth Order (UWO)
Take, for example, the UK’s law about unexplained wealth.
The United Kingdom introduced the unexplained wealth order (UWO) in 2018.
According to the law, if you have 50,000 Pounds worth of assets or more, and you can’t explain the source, the UK government will confiscate the assets.
This law is politically motivated because it’s about the money which they first allowed to be invested in the UK over the years, and now, legally shut down any chances of recovery.
The bottom line, though hard you try, you can’t bring it back from the British soil.
Khan’s point about the western role in money laundering is valid, and he timely raised it at the world stage.
But it’s better to control it at the source, instead, to bring it back from the western capitals.
Remember, money laundering is the primary cause of the economic downslide of Pakistan. And we can witness an expedited recovery if we cease it in time.
What’s your opinion about Khan’s speech at UNGA?