- The raid was taken by FIA against illegal currency exchange.
- The arrested accused were involved in Hawala Hundi business.
- The raids are being conducted to arrest other accused.
KARACHI: Federal Investigation Agency (FIA) Banking Circle Karachi arrested three suspects involved in illegal currency exchange and recovered domestic and foreign currency worth of millions of rupees during the crackdown against Hawala Hundi.
Action taken by FIA against illegal currency exchange in Jamshed town.
According to FIA officials, the arrested accused were involved in the illegal exchange of currency and Hawala Hundi. The arrested suspects were doing foreign currency exchange business without a licence, the arrested suspects include Muhammad Asif, Hafiz Faheem, and Imran Admani.
One crore Iranian riyals, 8,946 Saudi riyals, 1,280 UAE dirhams, Omani riyals, Canadian dollars, and more than Rs 700,000 were also recovered from the accused.
Hawala Hundi reference messages and registers were also recovered from the mobile phones of the accused. The accused could not satisfy the authorities regarding the recovered currency. The accused were arrested, and an investigation was started.
The raids are being conducted to arrest other accused.
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