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Pakistan’s Federal Investigation Agency has created a dedicated Cryptocurrency Investigation Unit to investigate suspected money laundering, terrorism financing, and other crimes involving digital assets.
The unit operates within the FIA’s newly functional National Command and Control Centre, known as NC3. Its launch adds a specialist investigative function as Pakistan develops a licensed market for exchanges and other virtual asset service providers.
NC3 Unit Will Trace Money Laundering and Terrorism Financing
FIA Counter-Terrorism Wing Director Muhammad Athar Waheed said the team will investigate the possible use of cryptocurrency in criminal activity. Its remit includes suspicious digital transactions, financial fraud and cases involving money laundering or terrorism financing.
The NC3 brings several investigative functions onto one platform. These include anti-money laundering teams, virtual currency investigations, open-source intelligence, cyber patrols, dark web monitoring and coordination with Interpol.
Officials said the system will allow the FIA to monitor investigations across its regional offices in real time. The agency is also drafting procedures intended to complete inquiries within fixed timeframes.
PVARA Retains Crypto Licensing and Supervision Powers
The new FIA unit will not replace the Pakistan Virtual Assets Regulatory Authority. PVARA remains responsible for licensing, supervising and taking regulatory action against exchanges, custodians, wallet providers, brokers and token issuers.
Pakistan’s Virtual Assets Act requires service providers to obtain authorization before serving local users. PVARA is currently issuing no-objection certificates as an initial step, while its full licensing regulations remain under development after a public consultation that closed on July 2.
Unlicensed Operators Could Face Regulatory and Criminal Action
The division gives PVARA responsibility for market conduct and compliance, while the FIA handles suspected criminal offenses.
Cases involving an unlicensed operator could therefore trigger both regulatory action and a criminal investigation, depending on the conduct involved.
That split allows Pakistan to build a licensed crypto market while creating a federal route for investigating suspected financial crime involving digital assets.
FIA Calls for Crypto Units in Cybercrime and Narcotics Agencies
Waheed called on the National Cyber Crime Investigation Agency and Anti-Narcotics Force to establish their own cryptocurrency units. Those teams would focus on digital assets used in cybercrime and drug-related financial flows.
The proposal would extend specialist crypto-investigation capacity beyond the FIA’s NC3 platform if those agencies create similar teams.
Staffing, Budget and Active Caseload Remain Undisclosed
Pakistan has also allowed banks to open accounts for PVARA-authorized crypto businesses under strict anti-money laundering controls. Banks must verify regulatory clearance, maintain segregated rupee accounts and report suspicious transactions.
The FIA has not disclosed the unit’s staffing level, budget or active caseload. Its next step is to begin coordinated investigations through NC3 while Pakistan finalizes operating rules for licensed virtual asset companies.
