ISLAMABAD: The Ministry of Information Technology and Telecommunication (MoITT) has begun a nationwide crackdown on illegal loan apps.
43 apps in this category were prohibited immediately. Federal Minister for IT and Telecommunication Syed Amin Ul Haque said the ministry blocked these apps quickly.
The minister also stressed the significance of raising awareness to prevent such fraud.
The statement advised reporting concerns to the PTA, FIA Cybercrime, and local police to stop these unlawful loan apps.
According to MoITT, the IT minister has also instructed the FIA to act against such elements without waiting for complaints.
Many scammers are releasing “easy loan” apps on Google Playstore and Apple iStore. However, despite their convenience and lack of documentation, these apps are causing many people harm.
Another swindle surfaced this week after an unemployed Rawalpindi man committed suicide.
Digital rights and consumer protection organisations claim scams and fraudsters are flourishing as more people in the 220 million-person nation use hundreds of mobile-based lenders.
Karandaaz Pakistan, a nonprofit, showed that the number of Pakistanis using personal finance apps more than doubled to 19% in 2022 from two years earlier, promoting financial inclusion.
During countrywide operations against illicit loaning enterprises, FIA has registered 74 cases for inquiries on effectee complaints and three FIRs against persons and companies.
It caught 17 online loan scammers from various places and blocked 30 accounts.
The FIA spokesperson said Monday that the cybercrime wing has sealed five offices of these unlawful companies.
FIA Director General Mohsin Hassan Butt has ordered all cyber crime wing field units to crack down on organisations. As well as against individuals offering loans through unlawful mobile apps.
