LAHORE (Dunya News) – Federal Investigation Agency (FIA) on Tuesday traced those involved in hoarding of $163 million in a structured manner.
In an attempt to curb rising dollar rate against local currency, the FIA launched a crackdown against those involved in hoarding of dollars. The traders of hawala/hundi have also come under the radar of the FIA.
Sources said that the FIA has sprung into action after the rise in the value of the US dollar against Pakistani rupee and traced those involved in hoarding of $163 million in a structured manner, while the sale/purchase of US dollar had been deliberately kept at $35,000 less.
Sources privy to the FIA said that thousands of transactions had been made by keep the transactions below $35,000 and several money exchange companies had also been involved in money laundering.
“Only 100 people had been sold $63 million in a structured manner,” source added.
Sources further added that more than $100 million had been sold to 500 people in a structured manner and this method had been used to keep the money laundering undisclosed.
The FIA summoned the owners of the money exchange companies found involved in hoarding of dollar for questioning.