FIA uncovers online fraud worth billions of rupees

ISLAMABAD: Around a dozen local and foreign companies and individuals are involved in the online fraud worth billions of rupees, recently uncovered by the Federal Investigation Agency (FIA).

The FIA ​​Economic Crime Wing has also registered a case under the Money Laundering Act, after the discovery. Several foreign companies and individuals are named in the case, along with local private banks who were involved in the scam.

As per initial details, billions of rupees were looted by tricking thousands of people, with fake jobs and businesses.

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The online fraud network is also involved in money laundering worth billions of rupees, the text of the case registered said.

The FIA officials have said that efforts are being made to arrest foreign citizens and local individuals in the case.

The total size of the network’s fraud can reach Rs 50 billion, FIA officials said.

In the current fiscal year, 130,000 complaints of online fraud have been registered.