fia arrests five
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FIA arrests five in Lower Dir illegal currency cra…

ByJustpaste.in

The Federal Investigation Agency (FIA) Peshawar Zone has arrested five suspects during raids against alleged illegal foreign currency exchange and Hawala/Hundi operations in Timargara Bazaar, Lower Dir.

According to FIA officials, the suspects were allegedly operating unauthorized currency exchange and money transfer businesses without the required licences. Separate cases have been registered against the arrested individuals under the Foreign Exchange Regulation Act (FERA).

During the raids, investigators recovered Pakistani and foreign currency worth millions of rupees. The seized cash included Rs49.336 million in Pakistani currency, 158 million Iranian rials, 20,521 Saudi riyals, 3,000 UAE dirhams and 700 Polish zloty.

The FIA said the suspects were allegedly involved in unauthorized foreign exchange dealings and illegal transfer of funds through Hawala/Hundi networks. Such activities violate Pakistan’s laws governing foreign exchange and financial transactions.

The latest action forms part of the FIA Peshawar Zone’s ongoing crackdown on unauthorized currency dealers and illegal money-transfer networks in Khyber Pakhtunkhwa. Officials said such operations are aimed at curbing activities linked to money laundering, currency smuggling and other financial crimes.

The agency has launched further investigations to determine the source and intended destination of the recovered funds. Investigators are also working to identify other people who may be connected with the alleged illegal operations.

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