ISLAMABAD: The Federal Board of Revenue (FBR) has acquired detail of 160,000 undisclosed overseas bank accounts being held by Pakistani nationals.
According to sources, 4,800 accounts contain over $100,000 while several accounts contain even more than $1 million.
In the first phase as part of the ongoing investigation, the relevant data of the accounts is being collected including ownership and source of money transfer.
Moreover, the FBR will send notices to the account holders to submit an appropriate reply, and legal action will be taken against those who fail to respond.
Further investigation into the matter is underway.