The Federal Investigation Agency (FIA) Karachi Zone has launched a decisive operation against an organised gang involved in illegal hawala and hundi money transfers, arresting two key suspects and recovering millions worth of local and foreign currency, reported 24NewsHD TV.
The Corporate Crime Circle Karachi conducted the operation in Korangi, acting on credible intelligence.
Korangi Gang:
The arrested individuals were identified as Mohammad Junaid and Waseem, who were caught receiving illegal funds in the Korangi Industrial Area.
FIA sources said the gang used motorcycles to transport illegal hawala-hundi funds.
Huge Recovery from Safe House in Saima Luxury Homes
Following the suspects’ leads, the FIA raided another location at Saima Luxury Homes, where a large cache of cash, ledgers, and evidence was recovered.
Breakdown of Seized Currency:
Police seized Rs9.9 million, 13,500 British pounds, 6,300 US dollars, 14,500 Saudi riyals, 10,900 UAE dirhams, 1,150 euros, 8,000 Thai baht and Rs2.3 million worth in Defence Saving Certificates.
Legal action:
A case has been registered, and further raids are underway to apprehend other members of the gang.
FIA officials confirmed that the operation is part of a wider crackdown on illegal currency trade networks damaging the national economy.
Reporter: Anusha Jafri