Following the unfortunate suicide of Muhammad Masood, 42, of Rawalpindi, the Federal Investigation Agency (FIA) Cyber Crime Wing has initiated a crackdown on online loan applications.
On Thursday, the FIA spokesperson revealed that two loan application offices in Sector G8, Islamabad, had been searched and then sealed. Additionally confiscated laptops and computers as part of the search.
FIA Collecting Data of Fraudulent Loan Applications
The Federal Investigation Agency is collaborating with the Securities and Exchange Commission of Pakistan (SECP) to obtain data regarding fraudulent loan applications. The representative said that any apps discovered to be participating in illegal activity would face severe punishment.
Additionally, a request to restrict unauthorized loan apps would be made to the Pakistan Telecommunication Authority (PTA). Additionally, steps will be taken to ban online ads for these fraudulent loan programs.
The FIA stressed that those who have been harassed by such lending apps can submit their experiences to the Cybercrime Circle and urged people to report any cases of blackmail or other forms of abuse.
To read our blog on “Google Play Store draws out the Pakistani online loan scam app,” click here.
