Musharraf's Account In One of The London Banks Has Been Frozen

Investigation against the former president Paevez Musharraf and the the Sri Lankan manager of HSBC bank in London has been stasrted due to due to providing wrong information and fraud ulently opening the bank account. The Musharraf's account has been frozen and record of the bank has been seised. According to sourcs former president did not tell the bank that he had been the president of Pakistan whie opening the acoount that is necessary under the Britai law. Under the Britain financial laws any former or present hesd of the state has to declare his official responsibilities while opening the bank account in Brotain. This restriction has been imposed under the guidelines of article 12 of the Financial Action Task Force, the purpose of which is to stop corruption or money laudering. The sources told that during the last three years 7.0 million British pounds transaction has been done through the Msrble SArch Branch of HSBC Bank London. Still there are 0.3 million pounds in the bank in balance. British Conduct Authority is investigating about the transaction out of the account of former president. Under the law the additional id conducted while any famous political personality opens his account in the British bank and it is checked whether this money is earned through honest ways or through corruption and money laundering. One hundered countries have signed the agrement under Geneva Convention of UN and are bound to exchange information in this rgard. Under the same asrticle of Financial Ation Tsask Force, the bank accounts of former latre president of Libya Moamasr Qaddafi and Egyptian former president Hosne Mubarak in USA and Switzerland were confiscated. However, the close aide of former president Rashid Qureshi has said that the news was baseless while the reporter says he has despatched the news after confirmation..