FIA Busts Suspected Illegal Hawala Hundi Operation In Peshawar

PESHAWAR: The Federal Investigation Agency (FIA) has recovered more than Rs184 million in Pakistani currency during a crackdown on illegal hawala hundi operations in Peshawar.

According to the FIA, its Composite Circle Peshawar conducted the operation at Chowk Yadgar, a major business centre in the city, against a suspected individual allegedly involved in illegal hawala hundi activities.

During the operation, officials recovered Rs184 million (Rs18.4 million) in cash from the possession of the suspect and took the money into custody.

The FIA also seized a mobile phone and important documents allegedly linked to hawala hundi transactions. Officials said the seized mobile phone and documents would be examined as part of the investigation to gather further evidence regarding money transfers, possible transactions and other alleged illegal financial activities.

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The agency said further investigation into the recovered cash and other evidence is underway. Investigators are also working to obtain information about a possible network involved in illegal hawala hundi operations.

Officials said that if evidence of involvement of additional individuals emerges during the investigation, legal action will be taken against them in accordance with the law.

The FIA said operations against illegal hawala hundi and other unlawful financial activities, including the illegal transfer of money abroad, are continuing.

The agency said curbing illegal hawala hundi activities remains a priority as such practices pose challenges to the country's formal financial system.

The final responsibility of the detained suspect will be determined after completion of the investigation and relevant legal proceedings.

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