FIA Launches Crypto Crime Unit to Choke Money Laundering Networks
The Federal Investigation Agency (FIA) has launched a dedicated cryptocurrency investigation unit to counter money laundering and terrorism financing carried out through virtual currency transactions.
The unit operates within the newly functional National Command and Control Centre (NC3) of FIA.
FIA Counter-Terrorism Wing Director Dr Muhammad Athar Waheed told Dawn that the Pakistan Virtual Assets Regulatory Authority (PVARA) remains the primary body responsible for regulating digital assets, while the new unit will focus specifically on investigating crimes involving cryptocurrency.
He recommended that the National Cyber Crime Investigation Agency (NCCIA) and the Anti-Narcotics Force (ANF) set up similar specialised units to address the growing use of cryptocurrency in cybercrime and drug trafficking.
New rules are also being drafted to ensure investigations are completed within fixed timeframes.
Dr Waheed said the FIA had already shown marked improvement in its performance following a series of reform initiatives, adding that several major projects are expected to be completed within the next six months.
He credited Interior Minister Mohsin Naqvi with playing a central role in modernising the FIA, saying the ministers support had been instrumental in strengthening the capacity of the agency.
