FIA nabs key suspect in Rs36.2m banking fraud in Faisalabad

The Federal Investigation Agency (FIA) Faisalabad arrested Hassan Raza, a prime suspect in a banking fraud worth Rs 36.2 million (USD 128,000), during a targeted raid in Hassanpura.

According to FIA officials, the accused, in collusion with bank employees, siphoned the funds from a citizen’s account. The amount was withdrawn through fake accounts opened at the Gatwala branch of a private bank. Hassan Raza was allegedly a joint account holder in one such account used for the fraudulent withdrawals.

Two bank officials — Usman, the branch manager, and Shahzad, the relationship manager — who were reportedly partners in the scam, have already been arrested. Both are accused of facilitating the creation of the fraudulent accounts and authorizing the withdrawals.

Authorities also revealed that Hassan Raza is a wanted suspect in eight separate robbery cases registered with local police. Following his arrest, he has been transferred from the FIA police station to the relevant authorities for further investigation.