13 men arrested for Hawala, Hundi business, foreign currency seized

KARACHI: Federal Investigation Agency (FIA) claimed on Wednesday to have arrested as many as 13 men for their alleged involvement in hawala and hundi business and other illegal activities.

A spokesperson for the agency said the FIA commercial bank circle conducted raids in different areas of the port city and arrested thirteen people.

Also Read: Hawala, Hundi network busted, Rs5bn transactions detected

The detained suspects include employees of a currency exchange company, the spokesperson said, adding US$18,000, and Rs22.3 million worth of other foreign currency notes were seized from their possession.

He said material showing support for anti-state elements was also seized from the suspects. A first information report (FIR) has been registered against them with investigation launched.

Also Read: FIA recovers Rs150mn in crackdown on Hawala, Hundi

Earlier, on Jan 3, the Federal Investigation Agency (FIA) busted a network of people involved in the illegal hawala and hundi business.

The FIA spokesperson, seven members of the network involved in illegal money trade in Karachi, Lahore and Quetta have been apprehended. He revealed that a whopping Rs4.96 billion worth of transactions were carried out through four bank accounts owned by Waris Khan, the owner of a private firm.