ISLAMABAD: Federal Investigation Agency (FIA) busted an international criminal network which was laundering money via fake companies besides arresting key suspect. Federal Investigation Agency arrested key suspect who was allegedly associated with an international money laundering network. Arrest was made in raid conducted by agency’s anti-money laundering cell.

Officials said that arrested man was identified as Iftikhar Rasool a resident of Garden Town who is an important member of global network. They said that Iftikhar Rasool established 41 fake companies to use their bank accounts for money laundering.

They added that agency also seized records showing money laundering and illegal hawala hundi transactions worth millions which were made under supervision of Iftikhar along with co-accused Qaiser Mushtaq and Asim Hussain. During investigation, suspects revealed that gang is running fake currency business in Karachi. Arrested men also gave names of 21 accomplices working in gang.

Published in The Daily National Courier, April, 12 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.