QUETTA: The Federal Investigation Agency (FIA) carried out a raid in Quetta on Saturday, arresting two individuals allegedly involved in illegal currency exchange and hawala/hundi operations. The operation also led to the seizure of significant amounts of local and foreign currency.
FIA Balochistan officials identified the suspects as Muhammad Musa and Muhammad Ali, recovering $6,100 and over Rs4.35 million from their possession. Authorities also confiscated mobile phones and other materials linked to their illegal financial activities.
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Preliminary investigations revealed that the accused were operating an unlicensed currency exchange business and facilitating hawala and hundi transactions, which are often used to transfer funds outside formal banking channels.
A formal case has been registered against the two suspects, and the FIA has stated that further investigations are ongoing to uncover additional networks and participants involved in the illicit operations.
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