FIA cracks down on Hundi-Hawala network

A nationwide crackdown against entities engaged in hundi and illegal currency exchange persists, reported a spokesperson of the Federal Investigation Agency (FIA).

In the past four months, authorities conducted 267 raids targeting those involved in illicit hawala and hundi operations as well as illegal currency exchange businesses. Among the outcomes, 269 cases were registered, leading to the arrest of 327 suspects, with investigations into 36 inquiries completed.

The crackdown spanned various zones across the country, with notable activity in Peshawar, where 107 cases were registered and 116 individuals apprehended. Other regions, including Kohat, Lahore, Gujranwala, Faisalabad, Multan, Islamabad, Karachi, Hyderabad, and Balochistan, also saw significant enforcement efforts.

The arrested individuals were found to be engaged in currency exchange activities without proper licensing. Over the same period, authorities seized over Rs623.8 million worth of domestic and foreign currency, including $289,036 and other foreign currencies valued at more than Rs171.2 million.

Published in The Express Tribune, May 7^th, 2024.

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