The Federal Investigation Agency (FIA) has traced suspicious banking transactions worth nearly Rs690 million in its online gambling probe into an alleged Rs120 billion illegal money transfer network. The agency has asked a bank to block debits on the account of a Faisalabad-linked company.
Company Account Under Scrutiny
The company is linked to four transactions totalling Rs49.165 million, according to the latest investigation report. Investigators are examining the commercial purpose of the transactions and whether they were part of a wider settlement network. The case is registered as FIR No. 32/2026 with FIA Composite Circle Faisalabad.
| Detail | What the report says |
|---|---|
| Alleged network size | Rs120 billion |
| Suspicious transactions traced | Nearly Rs690 million |
| Faisalabad-linked company | Four transactions, Rs49.165 million |
| Two major recipient accounts | About Rs490 million and Rs150 million |
| FIR | No. 32/2026, FIA Composite Circle Faisalabad |
Overseas Transfers Not Yet Proven
A central focus is the suspected onward transfer of funds to Chinese beneficiaries allegedly tied to online gambling operations. The report says money collected through corporate accounts and digital payment facilities in Pakistan was settled overseas through hawala/hundi arrangements, but acknowledges that the full trail to Chinese beneficiaries has not yet been conclusively established.
Investigators identified third-party accounts that received large sums from the principal accused without any established legitimate business relationship. The account holders, mostly from Khyber Pakhtunkhwa, were issued notices to join the investigation but have not appeared. A representative of one Faisalabad-based account holder told investigators the individual lives in Malaysia and that funds were meant for onward settlement through hawala/hundi channels. The account holder’s own statement is awaited, and the claim has not been independently verified.
Single Member Companies and Banks
According to the report, several Single Member Companies were incorporated to obtain corporate branchless banking accounts and bypass daily deposit limits on individual accounts. The FIA obtained corporate records from the Securities and Exchange Commission of Pakistan, account-opening forms, banking documents and transaction histories, which showed significant discrepancies between declared business activities and actual transactions.
The probe covers records linked to the digital payment platform of a mobile phone company, a microfinance bank and a private bank associated with a Bahrain-based financial group. Officials of the microfinance bank and the private bank have been nominated in the FIR on the basis of evidence collected. Several people who deposited money gave statements under Section 161 of the Code of Criminal Procedure confirming the deposits were made to play online gambling games.
What Happens Next
The investigation is ongoing. The FIA is awaiting statements from account holders who have not yet joined the probe. All persons named are accused only, and no court has found anyone guilty.
Read more: NCCIA Arrests 1,749 Suspects in 53 Days, Raids Call Centres
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