Pakistan’s digital payment industry is facing serious scrutiny after the Federal Investigation Agency (FIA) uncovered an alleged Rs120 billion online gambling network. The investigation has raised concerns about money laundering and financial compliance across major payment platforms.
Authorities have reportedly suspended more than 100 payment aggregator accounts following the investigation. Several digital payment companies, including easypaisa and JazzCash, have come under scrutiny.
The case involves allegations of suspicious financial transactions and questionable merchant accounts. Investigators are also examining whether individuals within the payment industry helped facilitate the suspected activities.
The investigation began after a case was registered around September 24, 2026. The FIA’s Faisalabad Composite Circle reportedly uncovered a network suspected of processing payments linked to illegal online gambling platforms.
Rs120 Billion in Suspicious Gambling Transactions
According to financial records, 11 single-member companies collectively recorded credit turnover of approximately Rs119.93 billion. This amount is equivalent to more than $433 million.
The accounts also reportedly recorded debit turnover approaching Rs118.80 billion. These figures indicate substantial money movement through interconnected financial channels.
Investigators suspect that several companies operated under the cover of legitimate e-commerce and digital marketing businesses. Some allegedly created fake commercial websites to obtain merchant accounts and access payment gateways.
These businesses were reportedly used to receive, transfer and redirect money through digital wallets and banking channels.
However, the reported Rs119.93 billion represents transaction turnover. It does not independently establish gambling revenue or proven criminal proceeds.
Five branchless banking collection accounts also attracted investigators’ attention. These accounts allegedly handled approximately Rs8.586 billion through nearly 10.49 million transactions.
The scale of these Gambling Transactions has become a major focus of the investigation.
Online Betting Platforms Under Investigation
The FIA initially named eight suspects in the case. Two individuals, Muhammad Zeeshan and Muhammad Hamza Sarwar, were reportedly arrested.
Investigators also identified links to several online gaming and betting platforms. These reportedly include U7777 Game, TD777, Game89, 89F Game, EPIWIN, B9 Game and S9 Game.
Authorities suspect the network used financial layering to hide the original sources of money. This allegedly involved moving funds repeatedly between different accounts.
The suspected transactions involved mobile wallets, bank transfers and digital hawala and hundi arrangements. Investigators are also examining possible cryptocurrency transfers involving USDT.
Financial records reportedly show connections with Mobilink Microfinance Bank and the JazzCash ecosystem. Some funds allegedly moved through commercial banks, including Faysal Bank and Dubai Islamic Bank.
Investigators are also examining transfers involving mobile phone retailers and scrap businesses. These companies may have acted as intermediaries before funds reached other accounts.
JazzCash and Easypaisa Face Financial Compliance Questions
The investigation has reportedly resulted in major changes across payment processing services. More than 100 aggregator accounts were reportedly suspended or closed following FIA notices and internal compliance checks.
JazzCash has also reportedly launched an internal investigation. The company is examining questionable merchant accounts and existing transaction monitoring procedures.
A major concern involves whether financial institutions properly followed account-opening requirements. Investigators are also checking whether suspicious payment activities were identified and reported.
Meanwhile, reports claimed that easypaisa Digital Bank dismissed 30 employees over suspected irregularities. However, the company has categorically denied this claim.
FIA Expands Investigation Into Financial Institutions
The FIA is now examining the wider financial network behind the suspected operations. Investigators are looking beyond gambling operators and their associated businesses.
They are also checking whether employees or individuals connected to financial institutions facilitated suspicious transfers.
The investigation could raise further questions about digital payment security in Pakistan. It may also highlight weaknesses in merchant verification and financial monitoring systems.
The case involving Gambling Transactions has brought increased attention to Pakistan’s growing digital payments industry. Further investigations will determine the responsibility of the companies and individuals involved.
Authorities have yet to establish the final extent of the alleged network. The reported financial figures and suspected connections remain subject to investigation.
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