By The Federal Investigation Agency (FIA) State Bank Circle has arrested two men in Karachi for allegedly running illegal hawala-hundi transactions and recovered Rs2.5 million in cash, an FIA spokesperson said on Wednesday.
The raid took place near the Glass Tower at Jama Cloth Market on MA Jinnah Road. It was carried out on the instructions of FIA Karachi Zone Director Muntazir Mehdi and under the supervision of the State Bank Circle’s deputy director.
The suspects were identified as Altaf Ahmed, son of Sheikh Mustafa, and Nadeem, son of Abdul Salam. Digital devices and other evidence were also seized from them.
According to the spokesperson, preliminary investigations indicated that the two were involved in the illegal money transfer business. During questioning, they allegedly admitted to their involvement.
The suspects and the recovered items were moved to the FIA State Bank Circle Karachi. A case has been registered against them under the relevant provisions of the Foreign Exchange Regulation Act, 1947, as amended in 2020. Further investigation is under way.
https://www.techjuice.pk/fia-arrests-two-in-karachi-over-rs2-5-million-hawala-hundi-transactions/
