*KARACHI – Federal Investigation Agency (FIA) has intensified crackdownagainst the Hawala and Hundi business.*
*As per media report, FIA officials arrested two suspects involved in‘hundi, hawala’ business in Karachi.*
According to FIA officials suspects namely, Shakeel Jaffrani and Noman werearrested from city’s area of Bolton market. “The arrested suspects were nothaving documents showing transfer of money through legal channel,” the FIAofficials said.
Pay orders, deposit slips and other material was recovered from the custodyof the arrested suspects while case has been registered against them.
In another separate action of the FIA against ‘hundi,hawala’ business, asuspect Muzamil Shahzad was taken into custody for doing illegal moneytransaction in Lahore.
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The suspect Muzamil Shahzad was arrested by FIA corporate crime circleteam, on a tip-off, in a raid conducted at the office of Ramzan SewingMachine Traders, Lahore, and recovered a big amount of national and foreigncurrency was recovered from him.
It is pertinent to mention here that Financial Action Task Force (FATF), inAugust, gave Pakistan 15 months to fulfill its requirements, with thedeadline set to expire in September 2019.
