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Man involved in hawala transactions held in FIA raid

KARACHI: The Federal Investigation Agency’s (FIA) Corporate Crime Circle has arrested an accused involved in transferring millions of rupees via Hawala and Hundi channels from the country.
According to FIA officials, on a tip-off, an FIA team conducted a raid in Karachi’s Gulzar-e-Hijri area and arrested an accused Naqash for his involvement in Hawala and Hundi activities.
Director FIA Zone Sindh Munir Ahmed Shaikh said during the raid the accused fled the scene, adding that later arrested from a house in the area. The raided team recovered a huge cache of national and foreign currency from the house of the accused.
Munir Ahmed Shaikh further said that other than Chinese, Saudi, United States (US) Dollars and other foreign currencies, Rs 2,072,000 cash was also recovered during the raid. He informed that the officials also recovered records of Hawala and Hundi transactions from the suspect’s mobile phone.
Munir Shaikh adding that it showed a money trail of Rs 19 million received in terms of illegal transfers on Tuesday, followed by a record of Rs 22 million transactions on Monday. The officials have recovered a record of those who received money from the accused, he added.
On July 12, the Federal Investigation Agency (FIA) had carried out a raid in Saddar, arrested two men and seized a huge quantity of money including foreign currency and gold, officials and sources said.
The official said two persons, identified as Zain and Adnan, were detained, adding that they were allegedly engaged in sending “illegal remittance abroad under the cover of sale of gold”.
It is worth mentioning here that the State Bank of Pakistan (SBP) had repeatedly warned of strict action against the illegal foreign exchange operator. The SBP said that the bank will crackdown on illegal money changer, hundi and hawala operators across the country.
The SBP said that only banks and authorized dealers were allowed to do foreign currency business with the public.
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