November 10th, 2008 by The Online Reporter
Munaf kalia confessed to illegally transfer foreign currency for the last five years; more raids are expected from FIA to arrest more dollar smugglers. FIA got list of 32 people who smuggled 39 billion dollars to other countries. According to reports these money changers were transferring $10 million daily through “Havala” and “Hundi” system, which badly affected Pakistan’s forex reserves.
The sources said Munaf Kalia and Javed Khanani had confessed that they were asked by various locals to transfer their foreign currency to their relatives and friends living abroad. This smuggling of foreign currency has resulted in a massive downward slide in the country’s forex reserves, which have depleted from over $ 16 billion in Oct 2007 and now stand at below $ 7 billion, the sources said.
Lots of local politicians and big daddies of finance are expected to be disclose after Javed khanani and Munaf kalia’s statement. Now let’s see how agencies handle this important issue about currency fraud and punish real responsible.
November 9th, 2008 by The Online Reporter
Countrywide crackdown has been conducted against persons who were involved in illegal business of foreign currency transfer. FIA arrested some big daddies like Javed Khanani and Munaf Kalia of Khanani and Kalia International (KKI).
‘We have registered a case under Foreign Currency Regulation Act 1974 and Electronic Transaction Ordinance (ETO) against the accused’, FIA official claimed.
He said that it was only the start as more raids would be conducted in days to come to curb this illegal business which was harmful to country.
He said that accused were involved in sending huge amount of US dollars out of the country causing balance of payment problems in the country.
October 14th, 2008 by The Online Reporter
American and European detective agencies are investigating a credit card fraud of about $100 millions. More then 40 stores in UK were targeted by Fraudsters including Asda, Tesco and Sainsbury’s.
Those fraudsters used Made in China devices to capture selected customer’s Master Card and Personal Identification Number when cards are inserted into super market readers.
The information was transmitted to servers located at Lahore, Pakistan and then cards were cloned and used to steal money for different purposes like to buy airline tickets etc.
Detective agencies are suspecting AL Qaeda because they have been involved in online credit card fraud in past. Credit card companies should secure their system to prevent this kind of cyber crimes.
September 28th, 2008 by The Online Reporter
Agencies reported government that many criminals who are wanted to police have made their get ups like Taliban’s and started pretending as Taliban Commanders in their areas. This is their new technique to escape from police and to increase their terror in their areas.
Now once again it is a challenge for government that how they will handle those fake Talibans who are committing crimes and also becoming a cause of ruining Pakistan’s image worldwide in the name of Talibans.
