PESHAWAR: The Federal Investigation Agency’s commercial banking circle arrested a currency dealer here on Friday allegedly for running hundi-hawala business.
FIA officials told Dawn that they received information about Sameet Singh running illegal currency exchange in Ashraf Road area of the provincial capital.
They said a team raided the place and arrested Sameet Singh after he failed to verify the source of Rs80.5 million recovered from his possession.
“We also recovered hundi-hawala receipts from Singh’s possession,” a senior FIA official told Dawn, adding that a
case under sections 4 and 24 of the Foreign Exchange Regulations Act (FERA) 1947 was registered against the accused person and further investigation was under way.
Published in Dawn, June 17th, 2023
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