PESHAWAR: FIA Commercial Banking Circle Peshawar initiated a crackdown against all those elements being involved in illegal “Hundi business” and currency smuggling.
On the directives of Director KP Zone Nisar Ahmed Tanoli, a number of raiding teams were formed led by Deputy Director Afzal Khan Niazi, wherein during one of the operations the team arrested two suspects involved in the illegal exchange of money and currency dealings.
According to an official from the FIA, the team arrested the accused from the Nowshera district on Friday and recovered Rs.131 million. They were identified as Sher Zaman and Mohammad Saleem.
He further said that the accused were unable to satisfy the authorities regarding the recovered currency. Several receipts related to Hundi money and cell phones were also recovered from them.
Soon after the arrest, the authorities sealed their office, and a case was registered against the accused under the Foreign Exchange Regulation Act.
Crackdown Against Hundi Business, Other Illegal Business
It is worth mentioning here that, a few days before, the government announced to take corrective measures against the elements involved in the smuggling of foreign currency. The announcement was followed by a number of intelligence-based operations against the dealers involved in the “Hundi business” across the country.
