The FIA Anti-Corruption Circle Karachi raided a private bank branch in Federal B Area Block 4 and arrested five people, including the branch manager, officials said. According to the FIA spokesperson, the action was taken under inquiry number 107/2026.
Officials say cash, devices and bank records were seized
The arrested men were identified as Farhan Ahmed, Faisal Ahmed, Kashif Alvi, Muhammad Nassem and Junaid Ahmed. The FIA said Kashif Alvi was the manager of the private bank branch.
According to the FIA, the suspects were allegedly involved in illegal currency exchange and hundi-hawala business. During the operation, officials recovered Rs300,000 in Saudi riyals, seven smart devices, mobile phones and cheque books from different banks.
Phones allegedly contained WhatsApp chats and digital ledgers
The spokesperson said the mobile phones allegedly contained WhatsApp chats linked to the hundi-hawala network, digital ledgers and evidence of financial transactions. The recovered cash, mobile phones and other records have been taken into custody under a seizure memo.
FIA officials said further investigation is continuing to trace other people involved, the sources of financial transactions and possible facilitators. Action is also under way to register a case against the suspects under the Foreign Exchange Regulation Act and other relevant laws.
