FIA launches virtual currency probe unit to tackle financial crimes

The Federal Investigation Agency (FIA) has established a cryptocurrency investigation unit within its newly operational National Command and Control Centre (NC3) to investigate the use of virtual assets in financial crimes, including money laundering and terrorism financing.

FIA Counter-Terrorism Wing Director Dr Muhammad Athar Waheed said the newly formed Pakistan Virtual Assets Regulatory Authority (PVARA) would remain responsible for regulating digital assets, while the FIA's specialised unit would focus on investigating their alleged use in criminal activities.

He suggested that the National Cyber Crime Investigation Agency (NCCIA) and the Anti-Narcotics Force (ANF) should also establish dedicated cryptocurrency investigation units to address cybercrime and drug-related offences involving digital assets.

Dr Waheed said new rules were being developed to ensure the timely completion of investigations. He added that the FIA had introduced several reform initiatives aimed at improving operational efficiency and expected additional projects to be completed over the next six months.

According to the FIA official, the NC3 serves as a central platform for intelligence sharing, operational coordination and nationwide monitoring. The facility integrates immigration monitoring, border management, human trafficking investigations, risk analysis, anti-money laundering operations and international coordination through its Interpol Desk.

The centre also features a case management system for real-time monitoring of investigations and provides public services through a 24-hour helpline, complaint management unit and an overseas complaints cell.