ISLAMABAD – A financial crackdown is underway in Pakistan as Federal Investigation Agency (FIA) seeks to block transactions from a company’s bank account after the discovery of suspicious money transfers linked to Rs120 billion online gambling and money laundering network.
The latest development emerged from FIA’s Faisalabad investigation, where authorities traced nearly Rs690 million in suspicious banking transactions and uncovered possible connections between corporate accounts, digital payment services, illegal betting applications and international money transfer operators.
Investigators now requested bank to immediately restrict debit transactions from an account belonging to a Faisalabad-linked company after identifying four transfers totaling Rs49.165 million. The company is suspected of having possible links to a broader financial network allegedly used to move gambling proceeds through legitimate-looking business accounts.
The requested restriction would prevent outgoing transactions while allowing investigators to examine the purpose of the transfers and determine whether the funds were associated with genuine business activities.
The latest financial probe brought several previously unidentified accounts under scrutiny, with investigators tracing nearly Rs690 million in transactions requiring further examination. Two major recipient accounts alone reportedly received approximately Rs490 million and Rs150 million.
The account holders are primarily linked to KP, but despite being summoned, they have reportedly failed to appear before Federal Investigators. Another account connected to Faisalabad has raised suspicions of involvement in informal international money transfers. However, the claim remains unverified, and investigators are awaiting the account holder’s formal statement before drawing conclusions.
According to financial records examined by FIA, 11 single-member companies collectively received approximately Rs119.93 billion and recorded Rs118.80 billion in outgoing transactions. The amounts represent banking turnover, not verified profits from illegal activities.
Several companies were registered as ordinary commercial businesses to obtain corporate accounts and avoid the lower daily transaction limits imposed on individual digital wallet users. The entities reportedly presented themselves as businesses operating in e-commerce, digital marketing, construction and other commercial sectors.
The investigation, registered as FIR No. 32/2026 at the FIA Composite Circle Faisalabad around September 2026, followed inquiries into financial activities conducted during 2024 and 2025. Two suspects, Muhammad Zeeshan and Muhammad Hamza Sarwar, have already been arrested. Zeeshan has been linked to Martnmarts SMC Pvt Ltd, Rifamart SMC Pvt Ltd and Martspay.com, which reportedly received combined credits of approximately Rs47.78 billion. Martnmarts alone accounted for about Rs33.65 billion.
Other corporate entities under examination include Teamsmart, Housemart and Coastal Connections, associated with Imran Ali, along with New Heights Builders and Developers and Trendy Innovative Marketing, linked to Muhammad Amir. Martbox, Winnie Technologies and Unleash Utopia Mall have also surfaced during the wider investigation.
Investigators are attempting to establish whether these businesses were genuinely operating in their declared sectors or were being used primarily to channel money linked to gambling platforms. The inquiry has also uncovered allegations of overseas involvement.
A man identified as Waqar Rashid Khan allegedly facilitated introduction to a Chinese associate named Michael, who was linked to international operations and a suspected profit-sharing arrangement. Authorities have traced approximately Rs35 million between accounts associated with Zeeshan and Khan.
Although alleged earnings running into hundreds of millions of rupees have been attributed to individuals involved, investigators have not established that the entire corporate turnover constituted illegal proceeds. FIA is also examining whether money was transferred overseas through hawala, hundi or cryptocurrency transactions, potentially involving USDT. However, a conclusive financial trail to the suspected Chinese beneficiaries has yet to be established.
A major part of the suspected operation allegedly involved collecting small payments from users of online real-money gaming platforms. Applications and websites identified during the investigation include U7777 Game, TD777 Game, 89F Game, also known as Game89, and EPIWIN. Other platforms mentioned in related investigative reports include 1ee.com, 3rr.com, Z7.com, i8.fun, B9 Game and S9 Game.
FIA’s review of five branchless banking and collection accounts revealed approximately Rs8.586 billion in transactions, involving nearly 10.49 million individual payments. Investigators suspect that money deposited by gambling participants was accumulated through these accounts before being transferred into corporate banking channels.
The financial investigation is no longer limited to gambling operators and company owners. Banking officials and payment service intermediaries have also come under scrutiny over the alleged processing and movement of suspicious funds. Investigative records refer to Mobilink Microfinance Bank and a private bank associated with a Bahrain-based financial group.
FIA Director General Dr Usman Anwar is reportedly monitoring developments in the investigation through daily reviews, while the Faisalabad Zone continues collecting financial records and questioning individuals linked to the suspected network. FIA spokesperson Faryal Khan has maintained that the investigation is proceeding rapidly, rejecting suggestions that progress has slowed.
According to the agency, the complicated network of transactions requires detailed examination of banking documents, corporate registration records and information obtained from relevant financial institutions.
More arrests are expected if investigators obtain sufficient evidence for other individuals.
Over 100 JazzCash Accounts Shut Down as FIA targets Gambling, Digital Hundi-Hawala Network
