FIA Seizes Rs7 Million Worth of Local and Foreign Currency in Karachi Crackdown on Illegal Exchange
Karachi – The Federal Investigation Agency’s (FIA) State Bank Circle carried out a major operation in Karachi, arresting a suspect involved in illegal currency exchange and recovering cash worth Rs7 million in local and foreign currencies.
According to an FIA spokesperson, the accused, identified as Muhammad Akbar, was caught red-handed in the Sohrab Goth area while dealing in foreign exchange without a license.
During the raid, officials recovered 13,000 US dollars, 8,000 Saudi riyals, 1,556 UAE dirhams, 7,000 Indonesian rupiah, 1,000 Yemeni rials, 318 Omani rials, and 305 Chinese yuan. Additionally, 174,610 Afghanis, as well as euros, Iraqi dinars, Turkish lira, and 4 million Iranian rials, were also seized.
The FIA further recovered Rs1.5 million in Pakistani currency and five mobile phones, along with records related to illegal exchange transactions.
Authorities confirmed that the suspect failed to provide any legal justification for possessing the seized currency. An investigation has been launched into the illegal business network.
