KARACHI (HRNW)- Following the directives of the Director General of the FIA, the Karachi Zone has intensified its operations against unauthorized money changers. In a significant move, the FIA Commercial Banking Circle Karachi conducted a targeted raid to curb illegal currency transactions.
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Location & Arrest: The suspect, identified as Muhammad Konain, was apprehended during a raid in the PECHS area of Karachi.
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Seizure: Authorities recovered $16,000 USD in cash from the suspectâs possession.
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Evidence: In addition to the currency, the suspectâs mobile phone was seized, which contains digital evidence related to illegal exchange dealings.
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Illegal Activity: Investigations revealed that the suspect was operating a currency exchange business without the mandatory legal license.
According to the FIA spokesperson, the suspect failed to provide a legal justification or documentation for the recovered foreign currency. A formal investigation has been launched, and teams are currently conducting further raids to arrest his accomplices.
