FIA sets up cryptocurrency investigation unit

Pakistan's Federal Investigation Agency (FIA) has launched a dedicated cryptocurrency investigation unit to combat illicit financial activities involving virtual currencies. Housed within the newly operational National Command and Control Centre (NC3), the unit's primary objective is to prevent the use of digital assets for money laundering and terrorism financing.

Dr. Muhammad Athar Waheed, Director of the FIA's Counter-Terrorism Wing, emphasized the need for specialized units to tackle evolving criminal methods. He recommended that the National Cyber Crime Investigation Agency and the Anti-Narcotics Force also establish similar capabilities to address the use of cryptocurrency in cybercrimes and drug trafficking. New regulations are being developed to ensure timely completion of investigations.

The NC3 serves as a central hub for monitoring, intelligence gathering, and inter-agency coordination. It integrates various operational units, including those focused on immigration, border management, human trafficking, and financial crimes. The center's capabilities are further enhanced by open-source intelligence, cyber patrolling, and dark web investigation units, aiming to provide a comprehensive approach to national security and law enforcement.

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With the introduction of several reform initiatives, the FIA has already demonstrated significant improvement in its performance, and we expect a number of additional key projects to be completed over the next six months.