Karachi: The Federal Investigation Agency (FIA) on Tuesday arrested five suspects allegedly involved in the hawala/hundi business.
Raids were conducted in various locations, including a shopping mall in Clifton, Zamzama, and Khayaban-e-Jami. During these operations, the FIA’s State Bank Circle apprehended the suspects engaged in illegal currency exchange and hawala activities.
According to FIA officials, the raids resulted in the seizure of $4,500, £20,000, and Rs8,802,250.
The suspects have been identified as Waseem Akram, Shiraz, Arsalan, Majid Iqbal, and Adeel Shahid. A case has been registered.
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