Pakistan's FIA establishes a virtual asset investigation department to combat money laundering and terrorist financing

According to Dawn, the Federal Investigation Agency (FIA) of Pakistan has established a virtual currency investigation department within the newly launched National Command and Control Center (NC3), focusing on combating money laundering and terrorist financing using virtual assets.

Officials responsible for the counter-terrorism department stated that this department will work in conjunction with the newly established Pakistan Virtual Assets Regulatory Authority (PVARA) to specifically investigate criminal activities related to crypto assets, and recommend that the National Cyber Crime Investigation Agency (NCCIA) and the Anti-Narcotics Force (ANF) set up similar units to address the use of crypto assets in cybercrime and drug trafficking.

The FIA has also integrated functions such as anti-money laundering, border entry and exit monitoring, human trafficking, and smuggling investigations within the NC3, and is promoting new regulations and personnel expansion to shorten case processing times and enhance law enforcement coordination efficiency.