KARACHI: The Federal Investigation Agency (FIA) on Wednesday to have arrested four suspects during crackdown on illegal money changers and hundi-hawala dealers across the country.
According to details, the FIA continued its crackdown on illegal money changers and hawala dealers and arrested three suspects from Chaman District of Balochistan and one from Karachi.
In separate raids, the investigation authority arrested three suspects reportedly involved in hundi and hawala and illegal money exchange businesses.
The arrested suspects were identified as: Abdul Hakeem, Naik Muhammad and Nazar Gul. The raiding teams also recovered foreign and national currencies from possessions of the suspects.
Meanwhile, the FIA’s Corporate Crime Circle conducted a raid in Karachi’s Gurumandir area and arrested a suspect – identified as Ateeq – involved in hundi and illegal money exchange business.
The raiding team recovered Rs0.5 million, $2000, two cellphones, and a laptop from possession of the suspect. A case has been registered against the suspect under Foreign Exchange Regulation Act (FERA).
A day earlier, the Federal Investigation Agency (FIA) Corporate Crime Circle rounded up two money changers, who were involved in ‘illegal’ trading during separate raids conducted in Lahore.
According to FIA officials, accused Shafqat Ali and Shafqat were selling and buying foreign currency without a license. Rs4.5 million, foreign currency, and prize bonds were recovered from their custody. The accused were said to be an important member of the hawala, hundi gang operating from Dubai.
It is pertinent to mention here that the government directed the FIA to conduct an ‘immediate crackdown’ against illegal money changers and hawala and hundi operators in a bid to control the continuous devaluation of Pakistani rupee against dollar.
