The Federal Investigation Agency (FIA) of Pakistan has made a significant breakthrough in its ongoing efforts to combat illegal currency exchange activities, with the arrest of a gang leader involved in Hawala and Hundi operations.
The arrest came following a targeted raid conducted by the Commercial Banking Circle Peshawar, resulting in the apprehension of a key member of the gang engaged in illicit currency transactions. During the operation, a staggering sum of Rs. 10.17 million was seized from the clandestine Hawala and Hundi network.
According to a spokesperson for the FIA Commercial Banking Circle Peshawar, the operation was part of a larger crackdown on individuals and networks involved in unlawful currency exchange practices. The arrest of the gang leader, identified as Hamza Ilyas, sheds light on the extent of organized crime in the Hawala and Hundi trade.
The raid, conducted at Dean’s Trade Center in Peshawar, was executed swiftly and efficiently, leading to the apprehension of the accused along with the recovery of a substantial amount of currency. The FIA spokesperson emphasized that the operation was a result of vigilant monitoring and intelligence gathering, aimed at disrupting the illegal activities of Hawala and Hundi operators.
In addition to the seizure of currency, incriminating evidence related to the illegal currency exchange was also recovered from the possession of the accused. However, the accused failed to provide satisfactory explanations regarding the source and destination of the funds, raising further suspicions about the extent of the illicit operation.
Following the arrest, investigations have been initiated to uncover the full extent of the network and to identify other individuals involved in illegal currency exchange activities. Raids are currently underway to apprehend additional suspects implicated in the illicit trade.
The crackdown on Hawala and Hundi operations underscores the government’s commitment to combating financial crimes and maintaining the integrity of the country’s financial system. These illegal practices not only undermine the stability of the economy but also facilitate money laundering and other illicit activities.
The FIA has urged the public to remain vigilant and report any suspicious financial transactions or activities to the relevant authorities. The agency remains steadfast in its efforts to root out corruption and criminality in all forms, and the recent arrest of the gang leader is a testament to its unwavering resolve in this regard.
