The Federal Investigation Agency (FIA) Anti-Corruption Circle Karachi has arrested five people, including a private bank branch manager, in a raid on the bank’s branch in Federal B Area, Block 4, Karachi.
The operation was conducted under Inquiry No. 107/2026, an FIA spokesperson said. The arrested suspects are Farhan Ahmed, Faisal Ahmed, Kashif Alvi, Muhammad Naseem and Junaid Ahmed. Kashif Alvi is the manager of the branch.
According to the FIA, the suspects were allegedly involved in illegal currency exchange and hundi-hawala operations. During the raid, officials recovered 300,000 Saudi riyals in cash, seven smart devices and mobile phones, and cheque books from several banks.
The spokesperson said the mobile phones allegedly contain WhatsApp chats, digital ledgers and records of financial transactions linked to the hundi-hawala network. The cash, phones and other records have been taken into custody under a seizure memo.
FIA officials said further investigation is underway to trace other people involved, the sources of the transactions and possible facilitators. Proceedings to register a case against the suspects under the Foreign Exchange Regulation Act and other relevant laws are also in progress.