PESHAWAR: Federal Investigation Agency’s Commercial Banking Circle (CBC) on Monday arrested two persons over their alleged involvement in illegal Hundi Hawala business, officials said.

Amjad and Zamir were arrested during a raid conducted in Chowk Yadgar area.

“We have also recovered Rs6.63 million cash from their possession and receipts used for Hundi Hawala,” a senior FIA official said.

The official said that a case was registered against the accused persons under relevant sections of the Foreign Regulations Act, 1947.

CBC deputy director Afzal Khan Niazi said that a total of 323 raids had been conducted between December 1, 2021 to February 16, 2023, arresting 379 individuals.

He said that 118 cases were registered and 128 persons were convicted.

On December 12, 2022, FIA had sealed four plazas in the same area for running illegal currency business.

The markets, according to FIA officials, were being used for illegal Hundi business.

They said that the raid was conducted following information that the plazas were occupied by people involved in Hundi business and currency smuggling.

Published in Dawn, February 21st, 2023