FIA recovers millions in crackdown on illegal money exchangers

The Federal Investigation Agency has recovered Rs140m in local and foreign currency after a crackdown on a network of illegal money exchangers in compliance with the National Action Plan (NAP), media sources have revealed.

A team of FIA Corporate Crime Circle (CCC) raided Pracha International currency exchange in Anarkali, Lahore, and arrested five people involved in hawala hundi business, informed an agency spokesperson.

The alleged personnel include Numan Sultan, Zahid Malik, Saghir, Ishtiaq, Qadeer Malik and Amin khan.

The FIA has registered a FIR case against the accused and investigation is underway, officials sources have reported having said.

Article continues after this advertisement

The government is actively monitoring the flow of funds through banking channels or otherwise, the incoming and outgoing flow of funds to and from Pakistan, registration of vehicles, registrations of citizens of the country, rental issues and many other issues aimed at maintaining security and law and order within the country.

- Advertisement -
- Advertisement -

Must Read

PIBs fail to attract any foreign inflows during July

The first month of the 2021-22 financial year passed without any foreign inflow in the Pakistan Investment Bonds (PIBs) which attracted $256 million during...