The FIA Banking Circle arrested an accused involved in running an illegal exchange of hawala hundi and currency during an operation in the Old City area on Saturday.
According to the FIA spokesperson, the main leader of the gang was apprehended from Garden East area. The arrested accused identified as Noor Muhammad was found allegedly operating the unlicensed currency exchange.
Read Rs70b money laundering uncovered
Local and foreign currency worth millions of rupees was recovered during the operation. The FIA raiding team seized 2,600 US dollars, 650 UAE dirhams and 3.1 million Pakistani rupees from the accused. According to the FIA spokesperson, two mobile phones, messages related to hawala hundi, several hawala hundi registers were also taken into custody.
During the interrogation, the accused could not satisfy the authorities regarding the recovered currency. Investigation has been started and raids are being conducted to arrest other gang members.
Published in The Express Tribune, December 3rd, 2023.
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