The Federal Investigation Agency (FIA) has arrested two suspects over an alleged online investment fraud scheme targeting around 4,000 citizens.
The arrests took place in Faisalabad as investigators moved against a suspected group involved in the alleged financial scam.
During the arrests, FIA officials recovered Rs13 million in cash and more than three kilograms of silver from the suspects.
FIA Traces Alleged Investment Fraud Network
According to the FIA, the suspects allegedly targeted around 4,000 citizens through the online investment scheme.
Investigators said victims were directed to transfer money into bank accounts opened using the names of poor individuals.
The suspects allegedly used these accounts to receive funds transferred by people targeted through the scheme. The FIA said the two arrested suspects were part of a larger 14-member group.
However, the agency has yet to arrest the remaining members of the alleged group. Efforts are currently underway to trace and apprehend the other suspects involved in the case.
FIA Expands Action Against Financial Fraud
The FIA’s Economic Crime Wing investigates various forms of financial crime. Its areas of investigation include money laundering, illegal money transfers and banking-related fraud.
Meanwhile, the agency’s cybercrime operations have also focused on online scams and financial fraud.
The latest arrests add to the agency’s action against alleged schemes that use online platforms to target citizens and move illicit funds.
Investigators are continuing efforts to identify and arrest the remaining members of the alleged 14-member network.
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