IHC dismisses FIR against trader.

ISLAMABAD -- The Islamabad High Court (IHC) on Saturday declared the money laundering cases on basis of hiding assets as illegal and dismissed FIR against a trader.

Chief Justice Athar Minallah heard the case filed by a local trader of Rawalpindi Altaf Haider Gondal. The court said that it was necessary to prove 'making of assets through the laundered money.' The Federal Board of Revenue (FBR) had failed to prove money laundering in case pertaining to hiding assets.

The court said that 2010 Act was passed to stop money laundering and funding for terrorism. The money laundering was a punishable crime...