Pakistan’s FIA establishes a virtual asset investigation unit to combat money laundering and terrorist financing

PANews July 21 report, citing Dawn: The Federal Investigation Agency (FIA) of Pakistan has set up a virtual currency investigation unit inside the newly commissioned National Command and Control Center (NC3), focusing on combating money laundering and terrorist financing using virtual assets. An official from the counter-terrorism department said the unit will work with the newly established Pakistan Virtual Assets Regulatory Authority (PVARA) to specifically investigate criminal activities involving crypto assets, and urged the National Cyber Crime Investigation Agency (NCCIA) and the Anti-Narcotics Force (ANF) to establish similar units to address the use of crypto assets in cybercrime and drug trafficking. The FIA is also integrating functions within the NC3 such as anti-money-laundering, border entry and exit monitoring, human trafficking and smuggling investigation, and is moving forward with new regulations and personnel expansion to shorten case processing times and improve law enforcement coordination efficiency.