FIA makes a huge recovery of Foreign and Pakistan currency in a big raid

FIA makes a huge recovery of Foreign and Pakistan currency in a big raid

During a nationwide campaign targeting individuals hoarding currency, the Federal Investigation Agency in Lahore successfully seized over Rs15 million in foreign currency along with Rs68.1 million in local currency from suspected hoarders.

The agency apprehended three individuals, specifically Mazhar Shafqat, Zeeshan, and Salman, in a Lahore operation near Circular Road, while efforts are ongoing to detain Azhar Shafqat, the primary suspect.

From the suspects, the FIA recovered a variety of foreign currencies, including $4,655, 16,015 Euros, 17,740 UAE Dirham, 49,362 Saudi Riyal, 790 Canadian dollars, 2,650 Turkish Lira, and 4,880 British Pounds. The FIA stated that these individuals had been privately trading in currency after their exchange license had been revoked, following their prior involvement in the currency market through Omega Money Exchange.

Furthermore, on September 10, the FIA Multan conducted an operation in which they seized SR100,000 from a suspected currency smuggler named Mohammad Aleem, who hailed from Okara, Punjab. This operation occurred at the Ghazi Ghat checkpost in Punjab while the accused was en route to Quetta. The crackdown on currency hoarders has intensified amidst a significant increase in the value of the dollar.

Reports had circulated suggesting that authorities were planning to employ special devices to scan bank lockers nationwide. However, officials from the State Bank of Pakistan and the FIA clarified that these reports were inaccurate

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