Current Affairs

PTA Blocks 43 Loan Apps Amidst Rawalpindi Loan Scandal

In response to the recent loan application scandal in Rawalpindi, the Pakistan Telecommunication Authority (PTA) has taken decisive action by blocking 43 suspicious loan applications. The Federal Minister of IT, Amin-ul-Haq, has confirmed the initiation of strict measures against illegal loan apps, leading to swift action from PTA.

Consultation and Collaboration with SECP:

To combat fraudulent loan applications, the PTA has collaborated with the Securities & Exchange Commission of Pakistan (SECP), seeking their expertise and assistance in addressing the issue.

FIA Launches Investigation into Easy Loan Apps:

Following the unfortunate death of a citizen in Rawalpindi associated with a financial scheme involving Easy Loan apps, the Federal Investigation Agency (FIA) has launched an extensive investigation. This investigation encompasses the records of all four cell offices connected to the loan apps.

Blocking Accounts and Gathering Employee Records:

The FIA has approached the relevant companies to block the accounts of loan apps and has obtained the records of all employees associated with these companies. The cybercrime wing of FIA is actively investigating 19 individuals in connection with the case.

Data Hacking Process Included in the Investigation:

Recognizing the significance of data hacking, the investigation agency has incorporated this aspect into their inquiry. They have written to the PTA, requesting the recovery of records pertaining to the SIM cards used in the financial fraud.

By swiftly blocking suspicious loan applications and initiating a comprehensive investigation, the authorities aim to address the loan application scandal and ensure the safety of financial transactions for the public.

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