FIA nabs suspect involved in running hawala hundi business
- By Web Desk -
- Aug 27, 2023
MAILSI: The Federal Investigation Agency (FIA) has arrested a suspected man for allegedly running hawala and hundi business in Mailsi city, ARY News reported on Sunday.
The FIA spokesperson said in a statement that a suspected man was arrested during a raid in the Mailsi city of Punjab’s Vehari district. The arrested man was identified as Ghulam Sarwar.
The accused was involved in running an illegal currency exchange, the spokesperson added.
Related: FIA apprehends suspect involved in hawala hundi business
Earlier in the month, Federal Investigation Agency (FIA) Commercial Banking Circle Peshawar had arrested three men for their alleged involvement in hawala and hundi business.
According to the details, the suspects were found in possession of 750 euro, 3100 Chinese yen, 105 ringgit, $20 US dollars, and Rs 5,500,000 in cash.
The suspects failed to provide satisfactory explanations to the authorities regarding the source of the currency, which raised concerns.
As per the FIA statement, the receipts related to hawala/hundi were also recovered in the possession of the suspects, meanwhile, cases have been registered against the suspects under the Foreign Exchange Regulation Act, and legal proceedings are initiated by the FIA.