Pakistan Creates Unit to Tackle Crypto-Related Financial Crimes

Pakistan's Federal Investigation Agency (FIA) has launched a new unit to investigate cryptocurrency-related financial crimes, such as money laundering and terrorism financing. The unit is part of the agency's National Command and Control Centre (NC3), which brings together various tools for fighting financial crime.

The FIA's Counter-Terrorism Wing director, Dr. Muhammad Athar Waheed, confirmed the creation of the new unit in a statement to Dawn. He emphasized that the unit's focus is on cryptocurrency-related crimes and clarified that it does not overlap with the regulatory role of the Pakistan Virtual Assets Regulatory Authority (PVARA).

The FIA has also called on other agencies, including the National Cyber Crime Investigation Agency and the Anti-Narcotics Force, to establish similar units targeting cryptocurrency use in cybercrime and the drug trade respectively.