FIA Arrests Three Over Alleged Hawala/Hundi Network
Pakistan's Federal Investigation Agency says it dismantled a network allegedly involved in illegal currency exchange operations.
Pakistan's Federal Investigation Agency (FIA) said it had dismantled a network allegedly engaged in the illegal Hawala/Hundi business, according to a report by the Associated Press of Pakistan (APP).
The agency arrested three individuals said to be members of the network, APP reported, citing the FIA.
Hawala and Hundi are informal money transfer systems that operate outside regulated banking channels and are illegal under Pakistani law. Authorities have periodically targeted such networks as part of efforts to curb unregulated currency exchange and capital flight.
Further details about the identities of those arrested, the scale of the alleged network, or the amount of money involved were not disclosed in the initial report.
APP did not provide additional information on when or where the arrests took place, and it was not immediately clear whether the suspects have been formally charged.
Sources
- Three held over Hawala/Hundi — APP (Pakistan)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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