Suspect held for illegal money transfers

The Corporate Crime Circle of the Federal Investigation Agency (FIA) on Saturday arrested the leader of a group involved in hawala and hundi operations.

According to FIA officials, the suspect was apprehended during a crackdown on illegal currency exchange activities in Karachi. Acting on a tip-off, the FIA conducted a raid at Falak Corporate Tower on Bolton Road, where they arrested Mubashir Ahmed.

During the operation, officials seized over 5.7 million rupees, along with records related to hawala and hundi, bank deposit slips, and registers. The suspect was unable to provide satisfactory explanations for the seized currency and was operating without a licence.