The Federal Investigation Agency arrested two suspects for hawala and illegal currency exchange on Thursday.
The FIA Corporate Crime Circle Karachi conducted an operation in the Bahadurabad area and apprehended two suspects involved in illegal currency exchange. A spokesperson for the FIA disclosed that millions worth of local and foreign currencies were recovered.
The suspects identified as Riaz and Faizullah were allegedly engaged in hawala and illegal currency exchange, the FIA spokesperson stated, adding that they were also involved in foreign currency exchange without a licence. Officials seized 17,690 US dollars, 800 Canadian dollars, and 560 British pounds during the raid. Additionally, 900 Saudi riyals, 560 Chinese yuan, and more than Rs2,161,000 were recovered from the suspects. Mobile phones and records related to hawala transactions were also confiscated.