A tragic event involving loan applications took place in Rawalpindi around a week ago, and it ended with one person taking their own life. According to the information provided, he was being blackmailed by the respondents of a certain lending app, and as a result, he made the decision to take his own life because he was unable to pay back the debt. Following that, the Federal Investigation Authority (FIA) initiated a crackdown on these various loan applications. As a result of the suicide, the PTA has reportedly denied more than forty applications for loans since the most recent report was released.
After the terrible event, the country’s Ministry of Information Technology issued directives to the relevant authorities ordering them to crack down on scammers and bogus loan applications in the country.
Syed Amin ul Haque, the minister for information technology and telecommunications for the federal government, emphasized the gravity of the problem and encouraged the chairman of the PTA to find a solution as soon as possible. In response to this, and in accordance with the orders given by the minister, harsh proceedings have been initiated against illegitimate loan applications.
In addition, the Securities and Exchange Commission of Pakistan (SECP) was brought on board by the PTA in order to guarantee a comprehensive set of measures as part of the crackdown. In addition, the minister encouraged individuals to report any suspicious applications for loans to the PTA, the Federal Investigation Agency (FIA), the Cybercrime Wing, and their local police departments.
People have the ability to play a significant part in the fight against cons and the prevention of others from being victims of financial exploitation if they come forward to report incidents like these. In addition, the minister requested that the Director General of the FIA offer a briefing on the developments that have occurred up to this point.
Instead of depending simply on complaints, Minister Haque emphasised how important it is for the FIA’s cybercrime department to be proactive in their pursuit of dishonest individuals and take action against them.