The Pakistan Telecommunication Authority (PTA) has launched a decisive operation against rising online financial fraud, blocking 604 URLs linked to fake social media accounts and fraudulent schemes, according to an official document.
The document highlights a growing trend in which cybercriminals exploit fake profiles on social media platforms to deceive users into transferring funds to fraudulent bank accounts. These scams are typically presented as investment opportunities, job offers, or prize giveaways, targeting unsuspecting individuals across the country.
To combat these deceptive activities, the Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP) have established a dedicated e-portal for identifying and reporting suspicious accounts. Complaints submitted by government departments through this portal are forwarded to the PTA for immediate action.
In response, the PTA has requested major social media platforms to block and permanently suspend accounts found to be involved in financial fraud, particularly repeat offenders. This move is aimed at deterring future scams and protecting the public from falling victim to digital deception.
Despite these efforts, the document notes that the crackdown faces technical and legal challenges. These include the use of fake identities, Virtual Private Networks (VPNs), and cross-border jurisdiction issues, which often make it difficult to track down and prosecute the perpetrators.
