ISLAMABAD (special crosspondent) – The Federal Investigation Agency (FIA) has officially established a dedicated Cryptocurrency Investigation Unit tasked with probing financial crimes involving cryptocurrencies and other digital assets. This specialized wing will operate under the agency’s National Command and Control Centre (NC3), focusing specifically on combating money laundering, terrorist financing, cybercrime, and other illicit activities linked to virtual assets.

Expanding Regulatory and Investigative Oversight

According to reports, FIA Counter-Terrorism Wing Director Dr. Muhammad Athar Waheed clarified that while the Pakistan Virtual Assets Regulatory Authority (PVARA) will be responsible for the broader regulation of digital assets, the FIA’s new unit will focus exclusively on their criminal misuse. Dr. Waheed further recommended that both the National Cyber Crime Investigation Agency (NCCIA) and the Anti-Narcotics Force (ANF) develop comparable units to bolster national capabilities in addressing cryptocurrency-linked cybercrime and narcotics trafficking.

Institutional Reforms and Modernization

The creation of this unit represents a key milestone in broader institutional reforms designed to modernize the FIA. Dr. Waheed indicated that multiple supplementary reform projects are scheduled for completion within the next six months. He attributed the success of these restructuring and capacity-building efforts to the proactive support of Interior Minister Mohsin Naqvi.

Unified Operational Framework of the NC3

The National Command and Control Centre (NC3) functions as a centralized hub, integrating a wide range of critical operations including immigration monitoring, intelligence sharing, border management, and investigations into human trafficking. The facility also oversees money laundering detection, Interpol coordination, case management, and advanced cyber patrolling, alongside open-source and dark web intelligence gathering. In a related update on enforcement successes, FIA officials noted that more than 300 human trafficking cases have been processed over the past two years. These operations have led to the arrest of 258 suspected traffickers and the dismantling of several smuggling networks, which authorities credit for a notable decrease in migrant boat tragedies.