Action against illicit money trade to continue: FIA

PESHAWAR: The Federal Investigation Agency (FIA) has said that actions against the illegal business of hundi and hawala would continue across the province to avoid imposition of economic sanctions on the country.

“Pakistan has been placed on the ‘Grey List’ of Financial Action Task Force due to the illegal business of hundi, hawala and the smuggling of currencies.

Fearing further downgrading and imposition of economic sanctions, the federal government and the Ministry of Interior have directed a crackdown against illicit money trade,” Director FIA Mirvais Niaz told a press conference at the Malik Saad Shaheed Police Lines on Sunday.

Senior Superintendent of Police Operations Javed Iqbal was also present on the occasion.

The official said a grand action was taken at the Chowk Yadgar along with the local police, during which a number of hawala dealers were arrested.

He added that local and foreign currencies worth Rs26.83 million were recovered during the action.

The FIA official said that the recovered money included Rs23,414,375, 3595 US dollars, 30120 Qatari riyals, 18530 Turkish liras, 17216 Saudi riyals, 15121 Malaysian ringgit, 8395 UAE dirhams, 1070 euros, 260 UK pounds, 4760 Thai bhat and 3,000 Chinese yuan. As many as 45 cellular phones, 2 laptops, 4 DVRs were also recovered during the operation and around 44 people arrested, he added.

“The Supreme Court has also constituted a Task Force related to hundi and hawala. The international community has focused on Pakistan for addressing the concerns regarding money laundering/terrorism financing,” said the official.