KARACHI: The Federal Investigation Agency’s (FIA) Commercial Banking Circle Karachi has arrested a key member of an organized network involved in hawala-hundi and illegal currency exchange operations.
According to the FIA spokesperson, the operation was carried out under the directives of the FIA Director General as part of an ongoing nationwide crackdown on illegal foreign exchange activities.
The suspect, identified as Ahmed Raza, was apprehended from the Adamjee Nagar area. During the raid, officials recovered cash worth Rs15 million and seized digital evidence from the suspect’s mobile phone related to hawala-hundi transactions.
The FIA spokesperson added that the accused failed to provide a satisfactory explanation regarding the recovered currency. Further investigations are underway, and raids are being conducted to apprehend other members of the network.
