The Pakistan Telecommunication Authority (PTA) has taken significant action to combat online financial fraud by blocking 604 URLs linked to fraudulent social media accounts and deceptive schemes, according to an official document.
The document reveals a growing trend where cybercriminals are exploiting fake social media profiles to entice unsuspecting individuals into depositing funds into fraudulent bank accounts. These scams frequently masquerade as investment opportunities, job offers, or prize giveaways to gain the trust of potential victims.
The Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP) are collaborating to identify these deceptive accounts through a dedicated e-portal. Government agencies lodge their complaints via this portal, which are subsequently forwarded to the PTA for immediate action.
In response, the PTA has directed major social media platforms to block accounts involved in financial fraud. The authority has specifically requested the permanent suspension of repeat offenders as a deterrent against future scams.
However, this crackdown faces considerable challenges. The document indicates that technical and legal hurdles — including the use of fabricated identities, Virtual Private Networks (VPNs), and limitations in jurisdiction — often impede efforts to trace and prosecute the individuals responsible for these scams.
Despite these obstacles, the PTA continues to work closely with regulatory bodies and law enforcement agencies to improve monitoring and enforcement efforts. Furthermore, the authority is actively conducting a public awareness campaign to educate citizens about financial scams involving fake online accounts.
