QUETTA: The Federal Investigation Agency (FIA) Balochistan Zone has busted major illegal currency exchange network and arrested five individuals involved in illegal currency exchange and hawala/hundi operations in raids conducted in Quetta and Chaman districts of Balochistan province.
According to FIA officials, the arrested suspects have been identified as Akmal Khan, Saifullah, Bashir Ahmed, Abdul Qayum, and Abdullah. FIA officials confirmed that the arrests were made following intelligence-based operations targeting unlicensed money exchangers and hawal/hundi activies.
FIA officials recovered a large amount of local and foreign currency, including PKR 684,000, 230.5 million Iranian Rials, over 135,000 Afghanis, 700 US Dollars, 200 Saudi Riyals and 150 Australian Dollars.
The officials confirmed that the crackdown is part of a larger campaign to dismantle illegal financial networks operating in the Balochistan province and to prevent money laundering and unregulated foreign currency transactions.
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FIA Balochistan Zone started further investigations and more arrests are expected as authorities expand their operation to uncover the full extent of the illegal money transfer network.
