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LAHORE, Apr 23 (APP):The Corporate Crime Circle of the Federal Investigation Agency (FIA) Lahore has conducted a significant operation against individuals involved in illegal hawala/hundi activities.
During the operation, a suspect identified as Hammad Hassan was arrested in Lahore for his involvement in the illegal transfer of funds through the hawala/hundi system.
A spokesperson said authorities recovered over Rs 12.2 million in local currency from the suspect during a raid. In addition to the cash, hawala receipts, mobile phones and other incriminating evidence were also seized.
The suspect failed to satisfy officials regarding the source and intended use of the recovered money. Preliminary investigations indicate that he was operating an unauthorised currency exchange business without a valid licence.
FIA officials have initiated a detailed investigation following the arrest. “Those involved in activities that harm the national economy will not be shown any leniency,” said Sarfaraz Khan Work, Director FIA Lahore Zone. He further emphasized that operations against illegal hawala/hundi networks will continue unabated.