FIA along with intelligence agencies launch nationwide grand crackdown
Shares
The Federal Investigation Agency (FIA) and various intelligence agencies have finalized their preparations for a major operation against the hoarding of US dollars. This initiative comes just a day after the government granted the anti-crime agency the authority to implement measures aimed at curbing the smuggling of the greenback.
Insiders revealed that the FIA, intelligence agencies, and the State Bank of Pakistan (SBP) have significantly expanded their investigative efforts, compiling lists of companies and individuals suspected of engaging in US dollar hoarding. These sources went on to disclose that regulators have procured two years' worth of data from exchange companies and have compiled lists of individuals who appear to have acquired an unusually high volume of US dollars.
Furthermore, the FIA and intelligence agencies have commenced the process of collecting detailed information, including asset ownership, from various banks. The regulators were reportedly informed that a substantial quantity of US dollars is stored in bank lockers. These sources also indicated that advanced technology will be employed by the anti-crime agency to scan bank lockers in order to recover hoarded US dollars.
The preceding day, the caretaker government had empowered the FIA to wield its authority in controlling the smuggling of not only US dollars but also sugar, Urea, and petroleum products within the country. According to the official notification, the government had conferred upon the anti-crime agency the necessary powers to address the ongoing issue of smuggling. This grant of authority allows the FIA to take action at all entry and exit points related to foreign currencies. Additionally, FIA zonal directors have received instructions to provide daily reports to the agency's headquarters through appropriate channels
