KARACHI: Federal Investigation Agency (FIA) claimed to have arrested four men for their alleged involvement in hawala and hundi business and other illegal activities in Karachi in different raids.

A spokesperson for the agency said the FIA commercial bank circle conducted raids in different areas of the port city and four people.

The statement further said $105,000 was recovered from the arrested people, while cases have been registered against them.

Earlier, on Jan 3, the Federal Investigation Agency (FIA) busted a network of people involved in the illegal hawala and hundi business.

The FIA spokesperson said seven members of the network involved in illegal money trade in Karachi, Lahore and Quetta have been apprehended. He revealed that a whopping Rs4.96 billion worth of transactions were carried out through four bank accounts owned by Waris Khan, the owner of a private firm.