In a recent incident of cyber fraud, a male individual residing in Lahore experienced substantial financial losses amounting to millions of rupees as a result of engaging in an online commercial transaction that turned out to be fraudulent. A legal complaint was lodged at the Civil Lines police station in Lahore, wherein the plaintiff initiated legal proceedings against individuals named Yasir Hayat and Ahmed Nadeem, accusing them of engaging in fraudulent activities.
According to the applicant’s First Information Report (FIR), it was said that two years ago, Yasir and Ahmed Nadeem created two companies on Abbottabad Road. The applicant claims to have invested a substantial amount of money in these enterprises. The companies known as “Capital FX” and “Betfire” were engaged in conducting internet trading activities on a global scale.
Man Loses Millions of Rupees in Online Business Scam
Nevertheless, in the preceding week, the proprietors of the enterprises vanished. The website of the companies has been rendered inaccessible. The plaintiff has requested the apprehension of the proprietors of the companies and the restitution of his funds.
In the preceding year, the Cybercrime Wing of the Federal Investigation Agency (FIA) apprehended two individuals of Nigerian nationality on charges of engaging in fraudulent activities via the Internet.
The apprehension of the non-native individuals was carried out by the FIA Cybercrime Wing of Quetta subsequent to the submission of a formal complaint against them, as stated by a representative.
The representative acknowledged that he was approached by two individuals from Nigeria who expressed their intention to provide him a mobile phone and a monetary gift of $10,000. The individuals of non-native origin collected a sum of Rs419,500 in the form of fees for customs clearance, costs for parcel registration, and taxes.
The aforementioned occurrences serve as a cause for concern, highlighting the escalating menace posed by online investment scams in Pakistan. Unwary individuals are enticed into these fraudulent operations under the pretense of receiving significant financial gains. Nevertheless, these fraudulent schemes frequently result in significant monetary damages. The most recent instance of a Ponzi scheme pertained to a trading platform often referred to as IDA. The sudden termination of the site resulted in substantial financial setbacks for numerous customers in Pakistan.
