FIA Busts Hawala-Hundi Network Run by Private Bank
In practice, the Federal Investigation Agency (FIA) has arrested five individuals, including a private bank's branch manager, over an alleged illegal currency exchange and hawala-hundi operation in Karachi.
In practice, the Federal Investigation Agency (FIA) has arrested five individuals, including a private bank's branch manager, over an alleged illegal currency exchange and hawala-hundi operation in Karachi.
Article outline
- What happened
- Official response
- The bottom line
Key points
- The FIA's Anti-Corruption Circle raided the bank's branch in Federal B Area's Block 4 under inquiry number 107/2026, according to an agency spokesperson.
- Those arrested were identified as Farhan Ahmed, Faisal Ahmed, Kashif Alvi, Muhammad Naseem, and Junaid Ahmed.
- Authorities stated they recovered 300, 000 Saudi riyals in cash, seven smart devices and mobile phones, and checkbooks from various banks.
- 2.1 Million from Main Suspect in Laiba Ijaz Case.
- The spokesperson remarked proceedings were underway to register a case under the Foreign Exchange Regulation Act and other applicable laws.
In practice, the FIA's Anti-Corruption Circle raided the bank's branch in Federal B Area's Block 4 under inquiry number 107/2026, according to an agency spokesperson.
FIA Recovers Rs. 2.1 Million from Main Suspect in Laiba Ijaz Case.
Those arrested were identified as Farhan Ahmed, Faisal Ahmed, Kashif Alvi, Muhammad Naseem, and Junaid Ahmed. Alvi was identified as the branch manager. The allegations concern the arrested individuals; the statement did not establish that the bank itself operated the network.
According to the FIA, the phones allegedly contained WhatsApp conversations, digital ledgers, and financial transaction records linked to the suspected hawala-hundi network. The cash, devices, and other records were formally seized. FIA Uncovers Rs. 120 Billion Online Gambling Network.
Investigators are examining the sources of the transactions and attempting to identify other individuals and feasible facilitators connected to the alleged operation.
Meanwhile, the spokesperson remarked proceedings were underway to register a case under the Foreign Exchange Regulation Act and other applicable laws. The allegations have not been proven in court. Stay Connected with ProPakistani. Obtain the latest news and stories wherever you prefer. Follow on Google Discover. Follow on Google News Join WhatsApp. See more ProPakistani stories in Google Search and Top Stories.
In short, FIA Busts Hawala-Hundi Network Run by Private Bank is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.
