Voice News

CA News 2024


FIA recovers Rs6.2 billion in crackdown on Hundi, Hawala

267 raids were conducted against elements involved in Hawala, Hundi and illegal currency exchange

An exterior view of the FIA ​​headquarters. — Facebook/FIA/File

ISLAMABAD: The Federal Investigation Agency (FIA) has launched a nationwide crackdown on people involved in Hundi, Hawala and other illegal forms of money exchange.

The spokesperson of the investigation agency said on Sunday that 267 raids have been conducted against elements involved in Hawala, Hundi and illegal currency exchange in the last four months and 269 cases have been registered.

The agency has arrested 327 people and completed investigations into 36 investigations, the spokesperson said. Peshawar Zone registered 107 cases and arrested 116 suspects, while Kohat Zone registered 21 cases and arrested 21 suspects in the last four months. Lahore Zone recorded 25 cases and arrested 36 suspects, while Gujranwala zone recorded 39 cases and arrested 52 suspects. Faisalabad Zone registered 19 cases and arrested 29 suspects, while Multan zone registered 16 cases and arrested 18 suspects.

Also, Islamabad Zone registered six cases and arrested seven suspects, while Karachi Zone registered 16 cases and arrested 27 suspects. Hyderabad Zone filed seven cases and arrested 10 suspects, while Balochistan Zone registered 13 cases related to hawala and arrested 11 suspects.

The arrested suspects were involved in running unlicensed money exchange offices. A total of over Rs6.238 billion worth of domestic and foreign currency was recovered. The recovered currencies include 289,036 US dollars and over Rs171.2 million worth of other foreign currencies. Moreover, over Rs371.7 million worth of Pakistani currency was also recovered.

Several shops were also sealed during the raids. Assistance has also been obtained from law enforcement agencies responsible for arresting suspects. In light of the directives of Director General Ahmed Ishfaq Jehangir, all resources are being deployed for the arrest of suspects.

In light of solid evidence against the elements involved in currency smuggling, appropriate legal action will be taken, the spokesperson said. Efforts are also being made to crack down on international agents involved in illegal currency exchange.