Following a suicide, the FIA begins a massive crackdown on loan applications.

Web DeskJuly 13, 2023
Following a suicide, the FIA begins a massive crackdown on loan applications

In reaction to the tragic death of Muhammad Masood, a 42-year-old man from Rawalpindi, the Federal Investigation Agency’s (FIA) Cyber Crime Wing has started taking action against online loan apps.

Masood tragically committed suicide after falling prey to internet loan application coercion.

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Two loan application offices in Sector G8, Islamabad, were searched and subsequently closed down, an FIA spokeswoman stated on Thursday. Computers and laptops were also seized during this raid.

The spokesperson further said that additional actions would be taken against any apps found to be participating in illegal operations. The FIA is working with the Securities and Exchange Commission of Pakistan (SECP) to acquire information on illegal loan applications.

Additionally, a request to disable these illegal loan applications would be filed to the Pakistan Telecommunication Authority (PTA). Additionally, steps will be taken to reduce internet ads for these illicit loan programs.

The FIA asked people to report any instances of extortion or other forms of abuse and urged anyone who had been harassed by such loan apps to file complaints with the Cybercrime Circle.







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