A week ago, a tragic incident related to loan apps happened in Rawalpindi where a person committed suicide. According to the details, he was blackmailed by the respondents of a particular loan app, after which he decided to commit suicide because he could not pay the loan. Subsequently, the Federal Investigation Authority (FIA) began cracking down on these loan apps. Now, according to the latest report, more than 40 loan apps have been blocked by the PTA after the suicide.
PTA bans over 40 loan apps
The Ministry of Information Technology directed the relevant authorities to crack down on scammers and bogus loan apps in the country following the tragic incident.
Federal Minister of IT and Telecom, Syed Amin ul Haque, stressed the importance of the situation and urged the president of the PTA to address the matter quickly. That is why, in line with the minister’s guidelines, strict action has been taken against illegal loan apps.
PTA also took on board the SECP (Securities and Exchange Commission of Pakistan) to ensure a wide range of measures as part of the crackdown. In addition, the minister advised citizens to report such fraudulent loan applications to the PTA, the Federal Investigation Agency (FIA), the Cybercrime Wing and the local police.
People can certainly play an important role in reporting such cases to minimize scams and prevent others from falling victim to financial exploitation. In addition, the minister also asked the director general of the FIA to provide a briefing on the progress made so far.
Minister Haque stressed the need for the FIA’s cybercrime department to take proactive action against dishonest individuals, rather than relying solely on complaints.
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