FIA arrests illegal money changer, recovers $17000, £14,000

KARACHI: The Federal Investigation Agency (FIA) has arrested another money changer involved in illegal business of hundi and hawala from Karachi, ARY News reported on Friday.

According to details, the FIA continued its crackdown against illegal money changers and hawala dealers in Karachi. The FIA Corporate Crime Circle in an action in Scheme 33 area of the port city arrested a man involved in illegal money changing business.

Babar Dosani was carrying out illegal money changing business from his house in Scheme 33, the FIA spokesperson said about the arrest.

$17,000, £14,000 and mobile phone were seized from his custody, while telegraphic transfer and hundi hawala lists were also recovered from his mobile phone.

The illegal money changer had been acquiring services of a rider for his business dealings.

A case under Foreign Exchange Regulation Act has been registered against Babar Dosani, the FIA said.

A day earlier, the Federal Investigation Agency (FIA) Corporate Crime Circle rounded up two money changers, who were involved in ‘illegal’ trading in separate raids in Lahore.

According to FIA officials, accused Shafqat Ali and Shafqat were selling and buying foreign currency without a license. Rs4.5 million, foreign currency, and prize bonds were recovered from their custody. The accused were said to be an important member of the hawala, hundi gang operating from Dubai.