DG FIA orders crackdown against illegal loan companies, apps

• FIA detained 17 accused from across the country.
• PTA blocks 43 loan apps in response to Rawalpindi suicide case.
• FIA requests citizens to check the registration of loan companies.

In response to a recent suicide case in Rawalpindi, the director general Federal Investigation Agency ordered all cybercrime units to take action against illegal loan companies and applications.

Following the order, FIA started inquiries with 74 online loan companies while detaining 17 accused across the country.

Besides, FIA registered cases against three companies and also 30 suspicious accounts.

Under the crackdown, FIA also sealed the offices of 5 companies and urged the citizens to check the registration of loan companies, in order to save them from becoming a victim of such illegal and fraudulent lending businesses.

In response to instructions from the Ministry of Information Technology, the Pakistan Telecommunication Authority (PTA) has promptly blocked 43 loan apps as part of their efforts to combat scammers and fake applications in the country.

The Federal Minister for IT and Telecom, Syed Amin ul Haque, recognized the urgency of the situation and directed the PTA chairman to take immediate action.

This crackdown on illegal loan apps involves collaboration between the PTA and the Securities and Exchange Commission of Pakistan (SECP) to ensure comprehensive measures are implemented.

Minister Haque urged the public to report any fraudulent applications to the relevant authorities, including the PTA, Federal Investigation Agency (FIA), Cybercrime Wing, and local police, emphasizing the importance of collective efforts in preventing financial exploitation.

Furthermore, Minister Haque received a progress briefing from the Director General of the FIA and highlighted the need for the FIA’s cybercrime wing to take proactive action against unscrupulous individuals without solely relying on complaints.

This action follows the tragic suicide of Muhammad Masood, a 42-year-old man from Rawalpindi, who was blackmailed by online loan apps, prompting the Cyber Crime Wing of the FIA to launch a crackdown on such platforms.