Karachi (HRNW) 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.
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