FIA nabs two suspects involved in 'hundi' business
- By Salman Lodhi -
- Dec 07, 2018
KARACHI: Federal Investigation Agency (FIA) officials nabbed two suspects involved in ‘hundi, hawala’ business in Karachi, ARY News reported on Friday.
According to FIA officials suspects namely, Shakeel Jaffrani and Noman were arrested from city’s area of Bolton market. “The arrested suspects were not having documents showing transfer of money through legal channel,” the FIA officials said.
Pay orders, deposit slips and other material was recovered from the custody of the arrested suspects while case has been registered against them.
In another separate action of the FIA against ‘hundi,hawala’ business, a suspect Muzamil Shahzad was taken into custody for doing illegal money transaction in Lahore.
The suspect Muzamil Shahzad was arrested by FIA corporate crime circle team, on a tip-off, in a raid conducted at the office of Ramzan Sewing Machine Traders, Lahore, and recovered a big amount of national and foreign currency was recovered from him.
It is pertinent to mention here that Financial Action Task Force (FATF), in August, gave Pakistan 15 months to fulfill its requirements, with the deadline set to expire in September 2019.
The FATF identified at least least 27 deficiencies pertaining to currency smuggling, hawala, and terror financing of proscribed outfits. A National Action Committee was accordingly formed to deal with the issue.