Illegal forex dealers busted

Eight alleged ‘hundi’ dealers arrested in crackdown

LAHORE:

In a crackdown against currency smugglers and ‘hundi’ and ‘hawala’ dealers, the Federal Investigation Agency (FIA) on Thursday arrested eight people from various parts of the provincial capital and recovered huge amount of foreign currency.

Addressing a press conference, FIA Zone-I Director Sarfaraz Khan Virk at FIA Punjab Zone office said FIA Corporate Crime Circle Lahore team raided at Sadiq Plaza Mall Road, Nabha Road, Mouj Darya Road and checked more than 50 suspected shops and sealed 22 shops involved in illegal currency exchange without permission of State Bank of Pakistan.

On the special direction of the federal government, strict action was underway against currency smugglers and ‘hundi’ and ‘hawala’ dealers and 79 people had so far been arrested and 42 cases were registered, he added.

The officer further said Lahore FIA had recovered a huge quantity of foreign currency including US dollars, Euros, UAE dirhams and others currency worth 324 million during the last two months.

Responding to a question, he said FIA was always ready to nab illegal currency dealers and on information, speedy action was being taken, adding that record of license holders was also being checked to control smuggling of foreign currencies.

He also lauded the efforts of FIA team and announced to continue crackdown till the arrest of last illegal agent in the provincial capital.

Published in The Express Tribune, January 20^th, 2023.