The Pakistan Telecommunication Authority (PTA) has undertaken significant action to combat online financial fraud by blocking 604 URLs linked to fraudulent social media accounts and deceptive schemes, as per an official document.
The document reveals a growing trend of cybercriminals utilizing fake social media profiles to entice unsuspecting individuals into depositing funds into fraudulent bank accounts. These scams are frequently disguised as investment opportunities, job openings, or prize promotions 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 such deceptive accounts through a dedicated e-portal. Government agencies lodge their complaints via this portal, which are then 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 demanded the permanent suspension of repeat offenders to deter future scams.
However, this crackdown encounters substantial challenges. According to the document, technical and legal hurdles — including the use of fabricated identities, Virtual Private Networks (VPNs), and jurisdictional limitations — frequently impede efforts to trace and prosecute the individuals behind these fraudulent activities.
Despite these obstacles, the PTA is maintaining close collaboration with regulatory bodies and law enforcement agencies to enhance monitoring and enforcement efforts. Furthermore, the authority is actively conducting a public awareness campaign to educate citizens about financial scams involving fake accounts.
