Following a suicide, the FIA launches a massive crackdown on loan apps.

The Federal Investigation Agency’s (FIA) Cyber Crime Wing has started activity against online credit applications because of the unfortunate self destruction of a 42-year-old individual, Muhammad Masood, from Rawalpindi.

Masood unfortunately took his own life subsequent to succumbing to coerce from online loan applications.

A FIA representative affirmed on Thursday that two advance application workplaces, arranged in Area G8, Islamabad, were looked and thus shut down. Computers and laptops were also seized during this operation.
The spokesperson said that the FIA and the Securities and Exchange Commission of Pakistan (SECP) are working together to collect data on illegal loan applications. She also said that additional measures would be taken against any apps that were found to be involved in illegal practices.

Additionally, the Pakistan Telecommunication Authority (PTA) will be requested to disable these illegal loan applications. Steps will likewise be attempted to check online commercials associated with these unapproved advance applications.

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The Financial Industry Authority (FIA) urged individuals to report any instances of extortion or other forms of abuse and encouraged victims of harassment from loan apps like these to file complaints with the Cybercrime Circle.

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