FIA arrests three suspects involved in illegal currency exchange business

KARACHI: Federal Investigation Agency (FIA) anti-corruption conducted a raid in Karachi’s Jamshed Town area and apprehended three suspects allegedly involved in illegal foreign currency exchange operations, ARY News reported on Wednesday.

According to the details, the apprehended suspects were allegedly involved in Hawala/Hundi as well as operating an illegal currency exchange business without license.

The FIA officials recovered foreign currency in millions from the arrested individuals who were identified as Mohammad Asif, Hafiz Faheem, and Imran Udmani.

During the raid, the law enforcers recovered domestic and foreign currencies including Omani Riyal, Canadian Dollars, Rs 700,000 PKR, 10 million Iranian Rial, 8,946 Saudi Riyal, and 1,280 UAE Dirham leading to the immediate registration of a case.