Two Illegal Currency Dealers Arrested

LAHORE, (UrduPoint / Pakistan Point News - 3rd Nov, 2023) The Federal Investigation Agency (FIA), in its ongoing crackdown against “Hundi, Hawala,” arrested two suspects involved in illegal Currency exchange here on Friday.

According to a spokesperson for the FIA, Salman Shah and Farman Shah were arrested from Shah Alam Market, who were running an organized hundi operation. Over Rs1.3 million in cash were also recovered from their possession. Hundi receipts and other incriminating evidence were also found during the operation.

Under the leadership of Director FIA Lahore Zone, Sarfraz Virk, teams conducted 33 raids targeting the hundi system, resulting in the arrest of 73 suspects and the registration of 31 criminal cases last year.

Furthermore, authorities have sealed 22 offices believed to be run by the suspects, marking a significant step in dismantling their operation. In terms of confiscated assets, the raids yielded foreign currency exceeding 76,886 US Dollars, as well as over 455 million rupees in foreign currency. In addition, Rs403 million were also seized.