A high-level meeting co-chaired by Interior Minister Mohsin Naqvi and Finance Minister Muhammad Aurangzeb has approved a comprehensive crackdown on money laundering and the hawala/hundi networks.

Authorities resolved to intensify scrutiny on major businesses and institutions involved in sending funds abroad through illegal channels, warning that no leniency will be shown to offenders.

Officials stressed that all overseas remittances must flow exclusively through formal banking and legally sanctioned channels. Measures will also be taken to streamline transfers via licensed exchange companies, ensuring greater transparency and compliance.

The government plans to make the entire remittance system more secure and transparent while actively discouraging illicit fund transfers. Large-scale money launderers will face strict action, and the hawala and hundi systems will be completely prohibited.

The meeting also approved establishing a joint task force consisting of the State Bank of Pakistan and the Federal Investigation Agency to monitor implementation and enforcement.

During the session, the central bank governor provided a briefing on the existing banking remittance framework. Senior officials, including the FIA Director General and the Finance Secretary, attended the meeting to coordinate the crackdown.