On August 4, 2025, the Federal Investigation Agency (FIA) Karachi Zone launched a targeted operation against organized elements involved in illegal currency exchange, arresting a key suspect, Mursaleen, in a raid at Gul Plaza on M.A. Jinnah Road, Karachi.

The Anti-Corruption Circle Karachi, acting on confidential intelligence, seized $37,000 from the suspect, with the recovered currency valued at over Rs10 million.

This operation marks another step in the FIA’s ongoing efforts to dismantle unlicensed currency exchange networks destabilizing Pakistan’s economy.

Mursaleen, apprehended during the raid, was operating an illegal currency exchange business without a valid license from the State Bank of Pakistan.

The FIA recovered substantial evidence, including the foreign currency, which the suspect could not justify.

Authorities have registered a case against him under relevant laws, and investigations are underway to uncover the full extent of his operations.

The FIA spokesperson confirmed that raids are ongoing to apprehend other individuals linked to the network, signaling a broader crackdown on illicit financial activities.