The Federal Investigation Agency’s (FIA) Cyber Crime Wing has initiated action against online loan apps in response to the heartbreaking suicide of a 42-year-old individual, Muhammad Masood, from Rawalpindi.
Masood tragically ended his own life after falling victim to blackmail from online loan applications.
An FIA spokesperson confirmed on Thursday that two loan app offices, situated in Sector G8, Islamabad, were searched and consequently shut down. During this operation, laptops and computers were also confiscated.
The FIA is collaborating with the Securities and Exchange Commission of Pakistan (SECP) to gather data on illicit loan applications, according to the spokesperson, who also added that additional measures would be taken against any apps discovered to be involved in unlawful practices.
