The Federal Investigation Agency arrested a money changer, his son, and five other suspects over their suspected involvement in hawala/hundi transactions. Foreign currencies worth Rs90 million have been seized too.
‘Hawala/hundi’ is a method of transferring money in which a person pays a certain amount to someone in one country, and their relatives/friends receive it in another country.
The operation was conducted on the instructions of a judicial magistrate. The seized currencies include the US and Canadian dollar, Euro, Pound, dirham, and Thai baht.
The anti-corruption agency raided four offices of the money exchange and claims to have found records of the telegraph transactions. Laptops and mobile phones were seized too.
According to the FIA, the exchange had long been involved in illegal activities and a case has been registered against them too.