The Federal Investigation Agency (FIA) has launched a crackdown on illegal currency trading, hoarding and smuggling.
A foreign exchange dealer in Defence Housing Authority Phase II extension was arrested for conducting illegal hundi and hawala transactions by misusing his licence to deal in foreign currency
“Crackdown on hoarding, illegal sale and purchase and smuggling of foreign currency is underway,” said a statement issued on Sunday. “There are intelligence reports of 79 individuals and businesses involved in criminal activities,” the statement added.
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“DG FIA Sanaullah Abbasi has directed action against illegal currency trading. During the crackdown, 15 suspects were arrested in 51 raids conducted in the border areas,” the statement said, adding, eight FIRs were registered. “An amount of Rs67 million, foreign currency including $237,000 and 11,000 British pounds were also recovered from the possession of the accused.”
Published in The Express Tribune, October 4th, 2021.