fia cracks down on hawala hundi operations 711 arrested in 499 raids
In a Significant move against illicit Financial activities the Federal Investigation Agency (FIA) in Pakistan has intensified its efforts to Combat Hawala hundi operations and illegal currency exchange. Over the past 11 months, the FIA conducted a total of 499 raids Resulting in the arrest of 711 individuals allegedly involved in these unlawful practices.
The FIA Spokesperson Disclosed that the Crackdown included 500 Registered Cases and the Completion of 61 inquiries, Reflecting the extent of the illicit financial Network being Targeted. The nationwide scope of the operations is evident in the distribution of arrests, with 333 suspects apprehended in the Khyber Pakhtunkhwa zone, 79 in Lahore, 24 in Gujranwala, 67 in Faisalabad, and 53 in Multan. Additionally 26 arrests were made in Islamabad 77 in Karachi, 32 in Hyderabad, and 20 in Balochistan.
The seized assets are substantial, comprising domestic and foreign currency exceeding Rs 799,060 US dollars, along with other foreign currencies valued at more than Rs 380 million. Notably, the recovered funds also included over Rs 3.67 billion Pakistani rupees. To reinforce the Crackdown authorities Sealed more than 28 Plazas, markets and shops nationwide that were allegedly involved in these illegal financial activities.
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Law enforcement agencies Collaborated Closely in these Operations underscoring the Concerted effort to Bring those involved in Hawala-hundi and illegal Currency exchange to justice. The FIA Spokesperson emphasized that all available Resources were being utilized to ensure stringent action against these illicit Practices and Strict Penalties awaited those engaged in the Smuggling of Foreign Currency.
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The FIA’s Proactive measures Demonstrate a Commitment to Curbing financial Crimes and Maintaining the integrity of the Country’s financial System. As the investigations Continue it sends a Strong message that illegal financial activities will be met with Decisive and Punitive action Fostering a more transparent and accountable financial landscape in Pakistan.