Z2C denies involvement in FIA investigation

Z2C has said that it has no involvement in the matter currently under investigation by the Federal Investigation Agency (FIA), stating that the company itself is not under probe.

In a statement, Z2C clarified that the individual referenced in recent reports acted strictly in a personal capacity. The company said the actions under review were not undertaken on its behalf and do not relate to its operations, finances, clients, or business activities.

The statement further emphasized that no company systems, accounts, or funds were involved in the matter.

“Z2C is not under investigation,” the company said.

The company announced that, effective immediately and in accordance with company policy, the individual concerned has been suspended from all duties pending the outcome of the legal process and a further internal review.

Z2C stated that it operates as a fully compliant organization and that all financial transactions are conducted through formal banking channels in line with applicable regulatory requirements.

The company also said it will extend full cooperation to the relevant authorities if required.

The clarification came after reports surfaced that the FIA’s Commercial Banking Circle had arrested an employee of the firm over allegations of transferring millions of rupees abroad through hawala-hundi.