LAHORE: The Federal Investigation Agency (FIA) has intensified its campaign against those involved in illegal currency business and its smuggling.

The Lahore division FIA launched a crackdown on the persons involved in illegal currency business and arrested 50 suspects during this month.

The FIA nabbed the suspects from different parts of Lahore, Gujranwala and Gujrat and recovered a huge amount of foreign and local currency from them.

They have been booked under the Foreign Exchange Regulation Act 1947.

“The action against those involved in illegal currency business – hawala and hundi – has served as deterrence to the practice. It will also encourage the people to send remittances through a legal channel – banking,” FIA Lahore Director Sarfraz Virk told Dawn on Monday.

Mr Virk said the campaign would continue in line with the government’s direction.

“After FIA’s action, the market has seen a considerable downward trend in this illegal currency business inLahore division,” the FIA director said.

Similarly, the Khyber Pakhtunkhwa FIA recently booked three private companies for violating a limit on the purchase of US dollars.

Published in Dawn, December 27th, 2022