PESHAWAR: Federal Investigation Agency(FIA)  Commercial Banking Circle conducted operations against Hawala and Hundi business with crackdown continues against the elements involved in the illegal exchange of hawala and hundi currency.

The FIA team arrested two suspects involved in hawala, handi and illegal currency exchange.

Among the arrested accused are Abdul Majeed and Shamal, FIA spokesman said. The accused was arrested from Zangli and Ashraf Road area of Peshawar, the spokesman said.

The official said that millions of rupees were recovered from the accused during raids and recovered a 1, 15, 50,000 rupees was recovered from the accused, the spokesman said.

Hundi reference and foreign currency exchange records were also recovered from the accused with the accused unable to satisfy the authorities regarding the exported currency, the spokesman said.

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Case registered against the accused with further investigation started, FIA spokesman said.