Hum Network, JS Bank at center of Money-Laundering probe as FIA investigation expands

2026-03-06 - 16:44

KARACHI – Federal investigators widened a money-laundering probe that started with a routine banking raid but now reaches into the media industry. Hum Network comes under scrutiny as transactions routed through JS Bank raised serious questions about underground currency movements and informal money transfers. It started as a small enforcement action that unfolded into broader narrative of alleged financial impropriety, one that authorities say could expose a much larger network operating behind the scenes. A probe by Federal Investigation Agency exploded into sensational money-laundering probe that now stretches far beyond its original scope, potentially exposing hidden financial network tied to Pakistan’s media industry. Authorities summoned the company secretary of Hum Network, and records from multiple prominent institutions are under intense scrutiny. Investigators claim the uncovered material may represent less than five percent of a sprawling illegal operation allegedly orchestrated by powerful media owners. The scandal erupted after routine raid on Zamzama branch of JS Bank over allegations of hawala and hundi transactions and illicit foreign currency sales. During crackdown, area manager Nauman Rauf and associates were arrested in connection with the alleged illegal sale of around Rs4million. But what authorities discovered on Rauf’s mobile phone sent shockwaves through the investigation as evidence redirected the probe squarely toward Pakistan’s media sector. Investigators now allege that ten million UAE dirhams were funneled through informal money-transfer systems and later withdrawn from the same bank branch. A second network involving similar hawala transfers and underground dollar trading has also emerged, suggesting coordinated financial activity designed to bypass official banking channels. The operation appears to have been meticulously structured to conceal identities. Cash couriers reportedly used SIM cards registered in Sri Lanka, Nepal, Dubai, and Singapore instead of Pakistan, leaving authorities scrambling to trace the individuals behind the transactions. Although some identities may be aliases, communication records exist, raising the possibility of major breakthroughs in the case. Sources within the investigation claim the network operated covertly for quite some time and may be part of a far larger money-laundering scheme linked to media houses. More high-profile names are expected to surface as the probe deepens, potentially exposing a multi-billion-rupee financial scandal. Sapphire Electric chief stopped from leaving Pakistan amid money laundering probe