FIA arrests two in Lahore for allegedly running illegal currency exchange

The Federal Investigation Agency (FIA) arrested four suspects during separate raids in Lahore on Sunday over alleged involvement in hawala and hundi operations and violations of the Copyright Act, 1962.

FIA’s Lahore Corporate Crime Circle conducted the raids at different locations across the provincial capital, according to an agency spokesperson.

Two suspects were arrested for allegedly operating unauthorised currency exchange and hawala and hundi businesses.

FIA recovered Rs20.4 million in cash from their possession, along with $1,080, AU$320, AED4,015, £85 and 160 Saudi riyals.

Investigators also seized documentary records and digital evidence allegedly linked to hawala and hundi transactions.

In separate operations, the agency arrested two other suspects over alleged violations of the Copyright Act, 1962.

FIA said a large quantity of counterfeit products carrying the branding of registered companies was recovered from the suspects.

As per media reports, the suspects were allegedly storing and selling falsely branded products, while further investigations into all cases were underway.

Last month, FIA also arrested two suspects over alleged involvement in hawala and hundi operations and copyright violations.

Interior Ministry and Finance Ministry announced a nationwide crackdown on money laundering and hawala and hundi networks in March.