KARACHI: The Federal Investigation Agency (FIA) Karachi Zone has uncovered a major hawala/hundi network involving the illegal transfer of 9 million UAE dirhams (approximately Rs735 million), arresting a senior company executive in a significant financial crime crackdown.
According to an official press release issued by the Public Relations Cell of FIA Karachi Zone (PR No. 12/2026), the action was carried out by the agency’s Corporate Crime Branch (CBC) during the investigation of FIR No. 10/2026.
Illegal foreign transfers exposed
Investigators revealed that a well-known advertising agency was involved in transferring substantial funds to foreign accounts through unauthorized hawala/hundi channels. The total illegal remittances amounted to 9 million Emirati dirhams.
During the probe, the Chief Financial Officer (CFO) of Z2C Pvt Ltd, Faisal, son of Muhammad Ilyas, was taken into custody for his alleged involvement in facilitating the unlawful transfers.
Arrest and ongoing investigation
The suspect has been formally arrested and placed under custody for further interrogation. FIA officials stated that the accused was directly involved in arranging and executing illegal cross-border financial transactions through informal money transfer systems.
Authorities have launched additional raids to identify and apprehend other individuals and facilitators linked to the network.
Zero tolerance policy reaffirmed
The Director of FIA Karachi Zone reiterated the agency’s zero-tolerance policy against individuals and entities involved in illegal financial dealings through hawala and hundi systems. He emphasized that strict action will continue against those undermining the country’s financial and regulatory framework.
Further investigations are underway, and more arrests are expected as the probe expands.
