The Federal Investigation Agency (FIA) Commercial Baking Circle of Peshawar arrested three suspects involved in hawala-hundi and illegal exchange of currency from Mardan and Kohat on Wednesday.

The arrested individuals were identified as Asadullah, Roohul Amin and Muzamil, who nabbed from Yadgar Chowk in Peshawar.

During the raid, huge sums of money were recovered from the accused, with FIA claiming the accused to run a currency exchange business without license.

A total of 3.2 million rupees, 1050 Euros, 900 US Dollars and 5000 Saudi Riyals were recovered from the accused, the FIA reported.

Records related to hawala-hundi were also recovered from the accused.

FIA stated that the accused failed to justify the recovery of such massive amount of currency from their possession.

Cases have been registered against the accused and an investigation into the matter has been initiated, FIA.