The Federal Investigation Agency (FIA) claimed to have recovered more than Rs. 15 million worth of foreign currency during a crackdown against hawala hundi and illegal currency exchange operations.
According to a spokesperson, the FIA State Bank Circle Karachi carried out the action on the instructions of the Director General FIA and arrested a suspect allegedly involved in hawala hundi and unlawful currency trading.
The suspect, identified as Bilal Saleem, was detained from Clifton. Officials said he was operating an unlicensed currency exchange business and was found in possession of $55,000.
The FIA further recovered mobile phones and other evidence related to hawala transactions and illegal exchange dealings. The suspect failed to provide a satisfactory explanation regarding the recovered currency, following which he was formally arrested.
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The spokesperson added that a probe has been initiated and raids are being conducted to trace and apprehend the suspect’s accomplices.
