The Federal Investigation Agency has established a specialised cryptocurrency investigation unit to track suspicious virtual-asset transactions and investigate their alleged use in money laundering, terrorist financing, cybercrime and financial fraud, reported 24NewsHD TV channel Tuesday.
The unit was formed on the instructions of the FIA director general as part of efforts to strengthen the agency’s response to emerging financial crimes involving digital assets.
Officials said the specialised unit would monitor suspicious cryptocurrency transactions and investigate cases in which virtual currencies were allegedly used to conceal, transfer or receive proceeds of crime.
The unit will use modern investigative technologies and operate in line with international standards for tracing digital transactions and gathering evidence in cryptocurrency-related cases.
Officials said special measures would also be introduced to prevent the misuse of virtual assets and ensure effective legal action against individuals and networks involved in unlawful transactions.
The FIA said the new unit would investigate the use of cryptocurrency in cyber fraud, money laundering and terrorist financing, while also developing the agency’s capacity to deal with the increasingly complex nature of blockchain-based transactions.
Officials described the establishment of the unit as an important step towards making enforcement against financial crimes more effective and ensuring greater transparency in cryptocurrency transactions.
The initiative comes as Pakistan develops a broader regulatory framework for virtual assets and service providers operating in the country.