Web Desk October 14, 2015 Pakistan, Sindh KARACHI: Federal investigation Agency (FIA) has on Wednesday raided Karachi Stock and arrested two suspects. According to FIA sources, approximately Rs 2.5 crore (local and foreign currency) has been recovered from the suspects. Suspects were trying to smuggle this amount to abroad through Hundi, A hundi is a financial instrument that developed in Medieval India for use in trade and credit transactions. It is to be kept in mind that FIA and other security agencies are in full swing to counter the money laundering specially after the recent money laundering case of Model Ayyan Ali. KARACHI: Worker of Pakistan International Airline (PIA) has died as the result of injuries suffered during ...
The Federal Investigation Agency (FIA) raided the Karachi Stock Exchange in Pakistan yesterday. Sources say that millions in local and foreign currencies were recovered in the raid, and that the money was being sent abroad through Hundi, which is an illegal method of transfering money; two employees have been arrested. According to a report by Reuters, the raid took place at around 4pm on Friday when Pakistani police seized about $US1 million ($A1.27 million) worth of assets from the exchange building.