FIA seizes $45,000, arrests two for illegal currency exchange

Arrests took place following FIA's State Bank Circle conducting raid at private bank branch near Stock Exchange

KARACHI:

The Federal Investigation Agency (FIA) has arrested two individuals involved in illegal currency exchange activities in Karachi, seizing $45,000 in the process which is valued at over PKR 12.5 million.

According to an FIA spokesperson, the arrests took place following a raid conducted by the FIA's State Bank Circle at a private bank branch located in the parking lot of the Stock Exchange.

The arrested individuals were identified as Mohammad Faisal and Maysam Raza.

Mohammad Faisal, the branch manager of the private bank, was caught red-handed while conducting foreign currency exchange.

The operation was carried out based on confidential information, and the FIA has registered a case against the suspects.

Investigations are ongoing, with further arrests expected based on information provided by the detained individuals.

Previously, FIA Immigration arrested two wanted suspects who were coming from abroad in two different operations conducted at Islamabad Airport.

One of the passengers arrested was coming from Saudi Arabia. The suspect was identified as Adnan Abbas who was wanted by Islamabad Cyber Crime Circle.

He was wanted in a case of online sexual harassment which had been registered against him in 2023 for sharing objectionable content of a victim.

The second operation led to the arrest of an accused who had been wanted for 11 years.