FIA arrests two suspects in crackdown on hawala-hundi network

The Federal Investigation Agency’s (FIA) Karachi Zone carried out a major operation against illegal hawala-hundi and currency exchange networks and arrested two key suspects.

According to the FIA spokesperson, the operation was conducted by an Anti-Corruption Circle Karachi team on the instructions of the FIA director general. The suspects were identified as Abdul Wasi and Daniyal Khizar. They were apprehended from Sharae Faisal and Tipu Sultan Road.

FIA officials stated that the suspects were involved in illegal transfer of domestic and foreign currencies and were sending money abroad through hawala-hundi channels. During the raid, FIA seized Rs10 million in cash from the suspects’ possession. Their mobile phones and other evidence were also seized, which provided important information regarding illegal financial transactions.

The two men failed to provide a satisfactory explanation regarding the recovered amount. Consequently, a case has been registered against them, and investigations are underway. Raids are also being conducted to arrest their accomplices. Further investigation is underway.

On Friday, the FIA Karachi Zone arrested three suspects and seized millions in local and foreign currency during a major operation against illegal currency exchange and hawala/hundi networks.

According to an FIA spokesperson, the operations were carried out by the State Bank Circle and Commercial Banking Circle on the directives of the FIA director general. The suspects were identified as Waqas Chanda, Sajjad Hussain, and Usman Afridi, who were taken into custody from Karachi’s Saddar and Aram Bagh areas.

During the raids, officials recovered Rs43.5 million in local currency and 2,000 Saudi riyals. Mobile phones and other evidence linked to illegal currency exchange and hawala/hundi transactions were also seized.

Initial investigations suggested that the suspects had been operating illegal currency businesses and engaging in hawala/hundi transactions. They were unable to provide satisfactory explanations regarding the recovered money.

The suspects remained in FIA custody for further investigation, while raids were continuing to trace and arrest their accomplices.