KARACHI: The Federal Investigation Agency (FIA) State Bank Circle team conducted a raid near Soldier Bazaar Fatima Hospital arresting two individuals involved in an illegal currency exchange.

According to an FIA spokesperson, arrested suspects have been identified as Syed Muhammad Raza and Hasnain. According to the FIA, the individuals were involved in illegal currency exchange activities.

During the raid, authorities recovered $50,600 in US dollars, 1,500 euros, and a 10-tola gold coin from the suspects.

Additionally three mobile phones were recovered containing digital evidence related to the illicit foreign currency exchange business.

Police officials stated that the suspects were operating a currency exchange without the license.