In a decisive crackdown on illegal financial activities, the Federal Investigation Agency (FIA) launched three early morning raids in Karachi this Thursday, targeting operators of hawala-hundi networks.
The agency reported that the operations resulted in the confiscation of Rs25 million in cash, prize bonds, cheques, computers, and mobile phones.
Five individuals were apprehended for their involvement in unlawful currency exchanges.
FIA Karachi Director Nauman Siddiqui, who oversees the Corporate Crime Circle, spearheaded the raids. The initial operation occurred at a Shahrah-e-Millat building where Asif Ashraf, a travel agency proprietor, and hawala dealer Shayan Wahid were detained.
Officials recovered Rs22.5 million in cash, along with mobile phones, laptops, and documents from the duo, revealing extensive hawala-hundi dealings.
Subsequent court-sanctioned raids in the Garden West and Sharfabad areas led to further seizures, including 117 signed cheques, prize bonds totalling Rs61,000, and Rs4.7 million in cash. Authorities also confiscated two laptops, two computers, seven mobile phones, and additional records about the illegal operations.
Investigations exposed a hawala network managed by suspects Muhammad Owais, Aqeel Sameer, and Javed, who orchestrated fund transfers and payments through a benami company utilizing third-party accounts.
