The Federal Investigation Agency (FIA) in Pakistan has dismantled⁣ a significant illegal⁤ currency exchange ⁤operation spanning Quetta⁢ and Gwadar, arresting ⁣four individuals‌ allegedly involved in hawala/hundi and unauthorized currency trading. ​The arrests, conducted on friday, October 3, 2025, represent ⁤a focused effort to curb illicit financial flows within the Balochistan province.

Acting on ‌intelligence regarding the ⁢clandestine network, teams from the FIA’s Commercial Banking Circle in Quetta and the⁢ Composite Circle⁣ in Gwadar executed coordinated ‍raids. ⁢Those apprehended have been identified as Haji Sharif, Abdul Rehman,​ Riaz, and Nazeer Ahmed. ​ Authorities allege the group was​ operating a currency exchange business without the required licensing,a violation of Pakistani financial regulations.

During the ⁣raids, investigators seized a ample amount of foreign currency and Pakistani rupees. The recovered assets included ‍1,072 US ‌dollars, 5,770 Afghanis, 2,485 Turkish Lira, 900,000 indochinese Rupees, 5.3 million iranian Rials,‍ and⁤ 2.7 million Pakistani⁣ Rupees. The FIA also confiscated 23 cheque books belonging to ⁢various‌ commercial banks, along‍ with mobile phones believed to contain evidence ​of transactions.

“These operations highlight ‌the FIA’s commitment to safeguarding‍ Pakistan’s financial system from ⁣illegal activities,”⁣ stated ⁣a senior FIA official.​ The practice of hawala/hundi ⁢ – informal value transfer systems – is frequently enough used to ⁣bypass official ‌banking channels, facilitating money laundering and potentially funding illicit activities. These systems operate ​outside the formal financial regulatory framework, posing risks to financial stability and national security. ​

The FIA is currently conducting ‌a‍ thorough investigation⁢ into the‍ full⁤ extent of the network’s operations, including identifying any potential collaborators and tracing the source and destination of the‍ funds involved.⁢ The crackdown underscores the growing‍ scrutiny of informal financial​ systems in Pakistan and the authorities’ determination to enforce financial regulations. ‌