ISLAMABAD: The Cybercrime Wing of the Federal Investigation Agency (FIA) has broadened its investigation into online loan providers by launching 74 inquiries nationwide and filing three cases against companies allegedly engaged in fraudulent practices.
The decision to expand the investigation came after Mohsin Hassan Butt, the Director General of FIA, instructed all field units of the cyber crime wing to take decisive action against both companies and individuals involved in offering loans through unregistered and illegal mobile phone applications (apps), according to a statement by an agency spokesperson.
The previous week, the FIA took immediate action against mobile apps offering loans when a jobless citizen from Rawalpindi took his own life due to the inability to repay both the loan and interest borrowed through one of these apps.
As a result, the agency has apprehended 17 suspects and frozen 30 bank accounts associated with this lending business. Additionally, the cybercrime wing has shut down five offices belonging to the companies engaged in this illicit activity.
The FIA’s investigation into online loan companies involved in money laundering is crucial to safeguarding consumers. It ensures the financial system’s integrity. Bustiness and perplexity are significant challenges in this context. But with proper regulations and awareness, we can create a more transparent and secure lending environment. We can contribute to a sustainable and responsible online lending industry by staying informed and exercising caution.
FIA Arrests 9 In Crackdown
According to the FIA, the arrested suspects were assigned daily targets of making 100 to 150 calls to citizens, their acquaintances, and their family members. The raided offices also revealed the existence of a separate department that conducted what the FIA described as “torture calls.”
The FIA further disclosed that these departments were identified as “D-0, D-1, D-2, DS-1, DS-2, and DS-3.” The suspects allegedly gathered personal information about citizens through the loan apps and subsequently exploited it to harass people.
During the raid, a significant amount of documents, computers, laptops, and mobile SIM cards were taken.
The arrested suspects are currently undergoing investigation. while efforts are underway to apprehend others involved, according to the FIA.
