The Pakistan Telecommunication Authority (PTA) has launched a significant crackdown on online financial fraud by blocking 604 URLs linked to fake social media accounts and fraudulent schemes, as revealed in an official document.
The document highlights the growing trend of cybercriminals using fake social media profiles to deceive users into transferring money to fraudulent bank accounts. These scams are often presented as investment opportunities, job offers, or prize schemes to gain the trust of victims.
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In collaboration with the Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP), the PTA has been identifying these fraudulent accounts through a dedicated e-portal. Complaints from government agencies are submitted via this portal and forwarded to the PTA for prompt action.
The PTA has urged social media platforms to block accounts involved in financial fraud and has specifically called for the permanent suspension of repeat offenders to prevent further scams.
However, the crackdown faces challenges, including the use of fake identities, Virtual Private Networks (VPNs), and jurisdictional issues, which make it difficult to trace and prosecute the fraudsters. Despite these obstacles, the PTA continues to work closely with regulatory bodies and law enforcement to strengthen monitoring and enforcement, while also running an awareness campaign to educate the public on such scams.
