Karachi: A suspect involved in hawala and illegal currency exchange has been arrested, and millions of rupees in both local and foreign currencies have been seized.
Following instructions from Director General Ahmad Ishaq Jahangiri, the FIA Corporate Crime Circle Karachi has continued its crackdown on individuals involved in hawala and illegal currency exchange.
In the latest operation, the FIA Corporate Crime Circle arrested the suspect, Behzad Alam, from Karachi’s Saddar area. The operation was conducted based on confidential information.
During the raid, the FIA recovered over 102.4 million Pakistani rupees, 51,850 US dollars, 1,500 Australian dollars, and 250 dirhams from the suspect.
The suspect was involved in illegal currency exchange without a license and could not satisfy the authorities regarding the seized currency.
According to an FIA spokesperson, the national treasury has suffered millions of rupees in losses due to hawala.
The suspect is under investigation, and raids are ongoing to apprehend other individuals involved.