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

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

The investigation agency’s spokesman Sunday said during the last four months, 267 raids were conducted against elements involved in Hawala, Hundi and illegal currency exchange, and 269 cases were registered.

The agency has arrested 327 people and completed investigations into 36 inquiries, the spokesman maintained. Peshawar Zone registered 107 cases and arrested 116 suspects, while Kohat Zone registered 21 cases and arrested 21 suspects during the last 4 months. Lahore Zone registered 25 cases and arrested 36 suspects, while the Gujranwala zone registered 39 cases and arrested 52 suspects. Faisalabad Zone registered 19 cases and arrested 29 suspects, while the Multan zone registered 16 cases and arrested 18 suspects.

Also, the Islamabad Zone registered six cases and arrested seven suspects, while Karachi Zone registered 16 cases and arrested 27 suspects. Hyderabad Zone lodged 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 currency exchange. A total of more than Rs6.238 billion worth of domestic and foreign currencies was recovered. The recovered currencies included 289,036 US dollars and more than Rs171.2 million worth of other foreign currencies. Additionally, more than Rs371.7 million worth of Pakistani currency was also recovered.

During the raids, several shops were also sealed. Assistance from the law-enforcement agencies responsible for the arrest of suspects has also been obtained. In light of Director General Ahmed Ishfaq Jehangir’s directives, all means are being employed for the arrest of suspects.

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