In a series of coordinated operations based on classified intelligence, law enforcement agencies in Islamabad have apprehended hundreds of individuals suspected of involvement in illegal currency exchange activities.
Officials reported that a total of 303 raids were carried out targeting clandestine currency exchange networks, leading to the arrest of 416 suspects.
The operations, conducted in various parts of Islamabad, have unearthed a significant cache of both domestic and foreign currencies, with a staggering total value of over 3 billion 54 crores.
Among the confiscated funds were 3 billion 16 crore Pakistani rupees and more than 5 lakh dollars in U.S. currency. In addition to these amounts, various other foreign currencies with a total estimated worth of 23 crore 71 lakh rupees were also seized.
Meanwhile, authorities have disclosed that the accused individuals had been operating within the cloak of legitimate businesses, using their enterprises as fronts for their illegal currency exchange activities.
On the other hand, law enforcement agencies have also compiled a comprehensive database of individuals suspected of involvement in these illicit currency exchange operations. The data encompasses details of the agents' banking activities, travel records, and their familial connections, providing investigators with valuable leads to pursue further.
This intensive clampdown on illegal currency exchange is part of a broader effort to curb the devaluation of the Pakistani rupee and stabilize the national economy.
