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Tuesday December 24, 2024

FIA confiscates Rs25mn cash during operation against hawala, hundi

Prize bonds, cheques, computers and cell phones, also seized

By Afzal Nadeem Dogar
November 07, 2024
Pakistani currency notes confiscated by the FIA on November 7, 2024. —Reporter
Pakistani currency notes confiscated by the FIA on November 7, 2024. —Reporter

KARACHI: Targeting hawala-hundi operators, the Federal Investigation Agency (FIA) carried out three raids during wee hours in Karachi in a significant move against illicit money transactions.

In addition to prize bonds, cheques, computers and cell phones, the FIA said that Rs25 million in cash were also seized during the raids.

Five people were apprehended for involvement in the illicit financial transfers, the agency further stated.

According to FIA Karachi Director Nauman Siddiqui, the FIA’s Corporate Crime Circle led the operations. The first raid took place at a building on Shahrah-e-Millat, where officials apprehended Asif Ashraf, a travel agency owner, and hawala dealer Shayan Wahid.

Two of the suspects arrested by FIA during raids standing with a security official on November 7, 2024. —Reporter
Two of the suspects arrested by FIA during raids standing with a security official on November 7, 2024. —Reporter 

Authorities recovered Rs22.5 million in cash, mobile phones, laptops, and documents detailing hawala-hundi transactions from the suspects.

Two additional raids, executed under court orders, took place in Garden West and Sharfabad areas.

Here, the FIA seized 117 signed cheques, prize bonds worth Rs61,000, and Rs4.7 million in cash. Two laptops, two computers, seven mobile phones, and other records related to hawala-hundi were also confiscated.

Further investigations revealed that suspects Muhammad Owais, Aqeel Sameer, and Javed were managing a hawala setup, transferring funds and making payments through a benami (undisclosed) company using third-party accounts.