Woman among three held as FIA uncovers hawala-hundi network

The Federal Investigation Agency's (FIA) State Bank Circle has conducted a major operation, uncovering a network involved in hawala-hundi and illegal currency exchange activities in Karachi.

Three individuals, including a woman, had been arrested.

They were identified as Fareeda Ghazi, Khubaib Malik, and Mazammil Habib.

The arrests were made in an apartment in the Bahadurabad area, where FIA officials also seized €2,500 and five million Pakistani rupees in cash.

In addition, checkbooks, prize bonds, laptops, mobile phones, and other documents related to illegal foreign currency exchange were confiscated during the raid.

FIA officials stated that the operation was carried out based on confidential information.

The arrested suspects were unable to provide a satisfactory explanation for the foreign currency, prompting the initiation of legal proceedings against them.