All FIA units to crack down on illegal money changers

The Federal Investigation Agency (FIA) has planned a comprehensive crackdown against illegal money changers and those involved in the Hawala and Hundi business, and it has decided to involve almost all its circles to work jointly against the menace.

During the recent crackdown, FIA officials have arrested eight suspects and also recovered millions of rupees in a foreign currency and equipment used in the Hawala business.

A meeting regarding the crackdown on Hawala and Hundi operators was held under the chairmanship of the Karachi FIA director on Wednesday, and it was attended by the circle heads of the FIA’s Anti-Corruption Circle, Cyber Crime Circle, State Bank Circle and others.

The director said that work upon the cancellation of bail of the accused mentioned in Hundi and Hawala FIRs should be carried out, and the investigations in these cases should be thoroughly conducted and written for mutual legal assistance as soon as possible.

It was further directed that the names of the accused in the FIRs in which the final challan had been submitted should be sent to this directorate with the recommendation of Interpol.

Moreover, the State Bank of Pakistan should be informed about exchange companies involved in Hundi-Hawala and inquiries should be completed on merit in time. The meeting further decided that raids should be carried out on proper information.

The FIA’s Karachi Anti-Corruption Circle, following credible reports of allegations of the illegal Hundi-Hawala business in the Zamzama mobile market, formed a team which raided M/s Tech Zone resulting in the recovery details of material and evidence which are as follows: Rs3.2 million, new iPhones 13 and 14 Pro Max are priced at Rs1,430,000, two iPad Pro worth Rs480,000, used iPhones 11,12 and 13 Pro and Pro Max of Rs1,650,000, Apple watches worth Rs200,000, receipts for delivery of more than 1100 illegally imported iPhones worth up to Rs242,000,000.

The material has been seized and efforts are on to trace Mudassar, the alleged owner of M/s Tech Zone. An inquiry is underway.

During their crackdown on smugglers and elements involved in Hundi /Hawala and illegally operating exchange companies, eight raids were carried out against the involved elements. As a result of these operations, 11 accused were arrested and eight cases were registered and they also sealed shops and offices used by the accused during raids.

Officials said that the teams seized Rs46.743 million in foreign and domestic currencies recovered from arrested suspects. The currencies recovered include $49,500, 1,000 euros, Rs31.636 million. The suspects are involved in illegal exchange of currencies under the guise of various businesses.

The FIA Karachi Zone has compiled data of agents involved and intelligence-based raids against the operators have been launched. Moreover, the bank records of agents, travel records and relatives’ data had also been collected. Interpol has been contacted to arrest the suspects abroad and the Interpol will take action on a priority basis to arrest the accused.