FIA tightens noose around money launderers, dollar hoarders

ISLAMABAD: Federal Investigation Agency (FIA) has come into action against persons involved in money laundering and dollar hoarding as launched more raids across Islamabad, ARY News reported on Thursday.

Crackdowns were continued by the investigation agency on alleged centres of money laundering and dollar hoarding.

FIA Islamabad Circle conducted raided 10 centres in F-10 and Blue Area in the federal capital where two currency exchanges were caught running without licences.

A huge amount of Pakistani and foreign currencies were seized by FIA officials, said its director.

According to the FIA director, the agency has also confiscated records of the unlicensed money exchanges besides recovery of the suspicious money.

Read More: FIA ordered to clamp down on dollar hoarding

He detailed that the officials seized 6960 Saudi riyal, 1,000 euro, 2,640 pound, 3,100 Australian dollar, 5030 US dollar, 6,335 UAE dirham, 100 Qatari riyal, 401 Chinese Yuan and Rs 2.4837 million Pakistani rupee from the branch of alleged illegal currency exchange.

Moreover, Rs4.3 million were recovered during a raid at a currency exchange in F-10 area.

Earlier on April 12, the Federal Investigation Agency (FIA) had arrested three suspects allegedly involved in Hawala and Hundi business and recovered dollars worth Rs420 million.

The dollars were recovered during a raid at a private firm in Kharadar area of Karachi.

The captured suspects include Imran, Kamran and Rizwan, said the FIA officials.

Director FIA Sindh Sultan Khawaja said money was sent abroad through Hawala and Hundi.

“A case has been lodged under Section 33 and 489 against the suspects,” he said.