The Federal Investigation Agency (FIA) successfully unearthed a substantial stash of foreign and local currency, amounting to billions of rupees, during a raid at an in-progress residential site in Shamsabad as part of a broader crackdown on illegal hundi and hawala transactions by exchange firms.
Following detailed surveillance and gathering of evidence on suspected illicit trade operations, the FIA’s Commercial Banking Circle executed another raid in Rawalpindi, seizing 13 computerized iron safes filled with significant cash amounts. The operation led to the detention of two suspects linked to these activities.
Before initiating the raid, the FIA monitored the location for a week, discovering a concealed iron gate in the plaza’s double basement parking area, where spare building materials were stored. Breaking through the outer walls, the agents discovered a hidden door shielding 13 extensive iron safes, surrounded by security equipment and cameras. This discovery sparked a fierce disagreement between the FIA team and the plaza owner, Sheikh Iftikhar Adil, concerning the custody of the found money.
Adil, asserting the legitimacy of the funds secured in the lockers, provided a money trail to the FIA and refuted claims of foreign currency recovery from the safes. Despite this, the FIA insisted on confiscating the discovered assets, even soliciting police backup to aid in the process. The initial findings of the operation have been reported to senior officials for further action.
 intensifies its nationwide operation against illegal hundi and hawala transactions, uncovering a significant cache of foreign and local currency hidden in an under-construction residential site in Shamsabad. The recent raid, part of a broader crackdown, also witnessed a confrontation between the authorities and plaza owner Sheikh Iftikhar Adil over the handling of the found assets.){kind=link}