FIA recovers Rs954.081m from illegal money changers, Hawala-Hundi operators

ISLAMABAD: The Federal Investigation Agency (FIA) recovered Rs954.081 million during crackdowns on illegal money changers and Hawala-Hundi operators across Pakistan in the last three months, according to an official report presented by the interior ministry to the Senate of Pakistan on Tuesday.

The document revealed that 277 raids have been conducted by the FIA teams against illegal money changers and Hawala-Hundi operators across Pakistan.

A total of 281 FIRs have been registered against them. The 395 illegal money changers and Hawala-Hundi operators have been arrested during this period, the document stated adding that two shops have also been sealed.

As a result of the crackdown, the FIA teams recovered $417653, while other foreign currencies equivalent Rs163.638 million and Rs669.451 million.

As per the document, 48 inquiries have been registered against them, out of which 39 have been converted into FIRs.

In response to a questions whether the amount has been deposited to the national exchequer, the FIA responded that all the reported FIRs are at the investigation stage, and no amount has been deposited to the national exchequer.

FIA apprehends three illegal money changers

The seized amount is deposited to the national exchequer after being confiscated by a court of law, the document stated.

The document clarified that the crackdown on illegal money changers and Hawala Hundi operators was initiated to support the initiative at the national level to control the devaluation of the Pakistani rupee.

Smuggling is the mandate of FBR customs; however, the FIA said it has enhanced profiling and screening of passengers at all international entry and exit points to have an enhanced check to intercept any attempt at currency smuggling through passengers.