The global economy of today exists in two parallel realms: the surface economy that is circumscribed by international and domestic regulation and oversight; and the shadowy economy that is large, amorphous, and fast-growing. Money laundering feeds this shadow economy, and it creates many domestic and international security risks, including the financing of nefarious non-state actors, promoting corporate and individual tax evasion, worsening economic inequality, and sustaining organized criminal activity. Leaks in recent years such as the Panama Papers, Russian Laundromat, and FinCEN only give us a glimpse of the problem. Yet the main bodies in charge of oversight of this space, such as the Financial Action Task Force (FATF) have a very limited focus, and even a political agenda of their own. For example, the FATF ranked United Kingdom’s (UK) compliance as the best in the world, although it is still marred by inefficiencies and is a work-in-progress.
Safety First: Need for Transparency and Accountability in the Aerospace Industry
Over the years, the aviation industry has witnessed a remarkable expansion in its operations and scope of activities. Advancement is marked with increasing innovation, technological breakthroughs and incorporation of state-of-the-art technologies.
Fixing Pakistan’s Budget
The question of fiscal sustainability has long haunted the Federal Budget of Pakistan. As deficits have widened over consecutive years, reform efforts have been piecemeal and trivial at best, and counterproductive at worst. What Pakistan’s budgetary architecture requires, however, is a systematic overhaul. By contrast,
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Half a Decade of Amplified Suppression in Indian Occupied Jammu & Kashmir
Fifth August 2024 marks half a decade since India annexed the Indian Illegally Occupied Jammu and Kashmir (IIOJK) and denied the disputed territory’s right to statehood through a rushed presidential decree. Months after winning the second term in the Lok Sabha polls 2019, the Bharatiya Janata Party (BJP) government revoked
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