494 suspects involved in hawala, hundi ‘arrested’, Rs1.49bn ‘recovered’ this year

The Federal Investigation Agency (FIA) has arrested 494 suspects involved in illegal currency exchange, hawala and hundi, in the country this year and recovered Rs1.49 billion as the law enforcement agency continues its nationwide crackdown on elements involved in illegal currency exchange operations.

According to the FIA, its teams conducted 384 raids during the ongoing year and registered 396 cases against illegal operators. The foreign currencies recovered from their possession include more than 466,000 US dollars, other foreign currencies worth more than Rs203 million and Rs1.13 billion cash.

FIA conducts crackdowns against hundi-hawala, human smuggling networks

The authorities said that several shops were sealed in the countrywide raids, which were carried out in cooperation with other law enforcement agencies.

“All the available resources are being utilised to arrest those involved in the criminal activities and they would be brought to justice in light of the concrete evidence against them. The noose will be tightened around foreign agents involved in trade of illegal currency as well,” the investigation agency said.

Raids are being carried out against the criminals under the zero tolerance policy, it added.

FIA on September 7 said it intensified its crackdown on illegal currency exchange networks and human smuggling groups in different parts of the country, leading to multiple arrests and the recovery of millions in cash.