Financial Crime Research Society & Institute

24/04/2023

Tackling financial crimes will assist us in tackling crimes of all types. Diagnosis of the problem is the first step towards and the basis of its treatment. Therefore, we, as an organisation, are dedicated to our goal of learning about Pakistan’s problem of financial crime and its impact on human rights.

Join us on our learning journey. Let's be aware!!

In the video below, Barrister Abdul Haseeb Khan, Head of Assets Recovery, is highlighting our goals and strategy to deal with financial crimes on Islam Channel (Urdu) in its London Studio.

26/10/2022

Many congratulations to our fellow expert asset recovery analyst. It is a privilege & honour to have such outstanding talents on the FCRSI board.

We look forward to having Barrister Abdul Haseeb Khan on board with the aim of developing a white collar crime prevention framework for the first time in Pakistan.

School of Law, QAU, is pleased to share the achievement of our alumnus from Pioneer Batch. Abdul Haseeb Khan from Mansehra, KPK, has completed his Barrister Training Course (BTC) with an overall distinction from BPP University, London. He is the first student of our School of law to become a Barrister. Many congratulations to him, the Director School of Law, Prof. Dr Aziz Ur Rehman, the whole faculty and our students.
Many prayers for his bright future.

18/10/2022

The Participants include from London, United Kingdom; Barrister Abdul Haseeb Khan (Moderator, Top Left), Barrister Sarah Adenaike (Top Left) Trainer, Author, Mentor & Regulatory Compliance Expert also from London, United Kingdom and (Bottom Screen) from Lahore, Pakistan; Umer Abdullah (Adv. High Courts of Pakistan & Founder, W.C.C.R. [Pvt.] Ltd.).

The Webinar originally dated 13.10.2022 was focused on money laundering, how in house compliance mechanisms in the UK are operational and comparing the same with how such compliance mechanisms could be, are being or should be applied in developing nations such as Pakistan. Barrister Sarah Adenaike is an expert in Regulatory Compliance having a solid background in Compliance as a Compliance Manager at Santander Bank, United Kingdom. She has also received an award for her performance in the realm of ensuring in-house Regulatory Compliance by the International Compliance Association (ICA, Manchester, United Kingdom). Sarah also trains people who want to learn more or build a career in the Financial Crime Space. She is a qualified Financial Crime Subject Matter expert with experience working with Tier 1 investment banks locally in the U.K and globally in countries like Dubai and the Phillipines. The difficulties she encountered in her transition from formal education to the real world has led her to write a best selling book on Amazon titled "Things That University Doesn't Teach You",with the primary aim of simplifying the journey of others.

Barrister Abdul Haseeb Khan was the Moderator and is presently employed in London as an Associate at Rahman & Co. Solicitors, London where he has developed due diligence and attention to detail involving tracing, retracing, monitoring, detection and prevention of money laundering under the Proceeds of Crime Act, 2002.
He has worked closely as a prodigy to Mr. Barry Ryder (Pioneer of White Collar Forensics in London, England & Dean, BPP University Law School) where he developed his likeness for Civil Recoveries under the Proceeds of Crime Act, 2002.
He is also the Editor In Chief at Financial Crime Journal "FCJ"(see more: https://fcrsi.org/financial-crime-journal ) & Expert on Civil Recoveries at White Collar Crime Research Pvt. Ltd.

Umer Abdullah (Adv. High Courts of Pakistan) is the founder of White Collar Crime Research (Pvt.) Ltd., and also on the panel of experts of Financial Crime Research Society & Institute which is an in-door project of W.C.C.R. (Pvt.) Ltd.

Having attained prior specialisation Master of Laws in Fraud & Financial Crime from BPP, London, United Kingdom; Adv. HC. Umer Abdullah is well versed in fraud analytics and is an anti-bribery in house compliance trainer. Adv. HC. Umer Abdullah is a pro-actively practicing criminal lawyer specialised in fraud investigation and financial forensics.
He was formerly visiting lecturer at the University of South Asia. Presently, he is visiting lecturer of Anti-Money Laundering/Counter-Finance of Terrorism module of the newly announced White Collar Criminal Investigations "Criminology" Bachelors Program compiled of four years at the Lahore Garrison University, Phase 6, DHA, Lahore, Pakistan.

15/10/2022

Here is the second Promo from our first webinar on understanding Economic crime.

15/10/2022

Here is the second Promo from our first webinar!

14/10/2022

We have recorded our first webinar with Mrs. Sarah Adenaike who is an expert in Regulatory Compliance based in the UK. She is a brilliant trainer giving trainings in Dubai and Philippines, too.

We were also delighted to have Mr. Umer Abdullah, the CEO of FCRSI.

Here is the first Promo for you:

10/10/2022

This is a huge scandal. The banks of Pakistan have ruthlessly betrayed the public trust and confidence. While the economy situation of the country was already worrisome and stressful, the commercial banks quoted high dollar rates to make profits. This increased the inflation rate in the country. Therefore, the cost of living increased too. The common people are already struggling to put food on their table for their children, and the banks have made live even worse for them.

The commercial banks are:
• National Bank of Pakistan
• Allied Bank Limited
• Bank Al Habib
• Standard Chartered Bank
• Meezan Bank
• Habib Bank Limited
• HabibMetro Bank; and
• the United Bank Limited

As the banks or any other financial institutions are legal persons (corporations etc), they need natural persons (human being) to run them. So, the acts and omissions of a bank are decisions made by the major stakeholders or the people holding key positions. They accumulate immeasurable sums of illicit profits. Therefore, imposing fines on the banks (which also unlikely) would not be enough to address this problem. The people behind the corporate veil needs to be identified and held liable for defrauding the people. And the illicit profits they have gained shall also be recovered from them.

It is a pattern of white-collar crime that needs to be dealt with. The same pattern was adopted by the banks in the UK as confirmed by the London Interbank Offered Rate, or the Libor banking scandal, which was erupted in 2012.

Banks representatives did not deny they quoted higher dollar rates to importers

08/10/2022

The decline of the British empire is a turning point in the history of economic crime. The British empire survived and thrived on the resources it accumulated from its colonies. Those colonies were controlled by the British Army with the help of local feudal lords. In the aftermath of WW2, British empire could not afford to stay in its colonies because of the bad economy and domestic chaos. The empire decided to leave and made its subjects believe that they are letting them win their freedom. The elites of the empire were not happy because they lost their tax base. Also, they could not physically loot the resources from different lands. Hence, they came up with a different plan.

The plan was to loot their former colonies (now third world countries) with the help of their loyalists. The loyalist gangs of every colony were the people holding key positions in civil and military establishments. Elites of the empire enabled the elites of poor countries to loot their own people through bribery, institutional corruption, drug trafficking, human trafficking, and so on. Then, they helped them get away with illicit assets through their offshore tax havens, secret banking system. The money from those havens was then funnelled to the city of London. And it is a going concern.

06/10/2022

Crime is not what you think it is. It has become modernised and sophisticated. Crimes we see in our society like murders, burglary, robbery and alike, are consequential crimes. The crimes which are mostly caused by the unequal distribution of resources in the society. The unequal distribution of resources is the economic crime. Therefore, it is vital for everyone to understand economic crime and how it impacts daily lives. And the criminals of economic crime are not ordinary people. They do not operate on streets with weapons in their hands. In fact, they are also sophisticated people holding privileged positions.

We have a wonderful bunch of young minds who see the world in their own way. They will talk us through this complex idea of economic crime and help us understand in simpler terms how sophisticated criminals operate. So, Our guest speakers are:

1. Umer Abdullah, the Founder and CEO, FCRSI.
2. Sarah Adenaike, Head of Compliance.

The discussion will be moderated by Abdul Haseeb Khan, Head of Assets Recovery.

28/09/2022

28/09/2022

For the first time ever in Pakistan, the Financial Crime Research Society & Institute (A project of White Collar Crime Research Private Limited) is collaborating with other renowned experts financial forensics and fraud analytics to develop a White Collar Crime Prevention Framework in Pakistan.

White Collar Facilitation is the bane of corruption and corrupt practice in our great Nation, hence we provide for a framework and expert consultations focussing solely on the anti-money laundering/counter-finance of terrorism regulatory framework in Pakistan. To enable maximised harmony and coherence in an established and ever revolving commercial enterprise utilised for the prevention of "White Collar Facilitation of Crime". We provide many businesses and corporations with in-house consultations regarding controls and preventive measures they can more efficiently utilise to reduce their costs of compliance rather enhance their Corporate Social Responsibilities (CSRs) securing them strong goodwill amongst their respective industries.

Become part of our team as a researcher, casework lawyer, investigator. To know more, email us at [email protected].
To find out whether you are eligible, visit https://fcrsi.org/trainings%2Finternships