FIA Directs Authorities to Arrest Culprits Involved in Crypto Scam

Crypto hunting is on the rise with everyone researching and investing in digital currency. It is because many see it as the currency of the future as the world is rapidly moving towards digitization. However, as we don’t have holistic information regarding its nature, so there are scams attached to it as well, as recently happened with Pakistan citizens. Earlier this month, the Federal Investigating Agency said it was investigating a massive scam that involved 11 Binance-linked apps, through which over $100 million (Rs17.68 billion) was taken from Pakistani investors by fraud. So in this regard, Federal Investigation Agency (FIA) Director-General Dr. Sanaullah Abbasi after receiving a series of complaints about cryptocurrency scams has directed the authorities to lay hands on the culprits involved in crypto scams.

DG FIA Holds a Meeting with Senior Officials to Discuss Crypto Scam:

The FIA spokesperson told that Dr. Sanaullah Abbasi paid a visit to FIA’s zonal headquarters in Sindh where he chaired a meeting. It was attended by all senior officials, including Additional Director General South Zone Shakeel Durrani and FIA Sindh Director Amir Farooqi. The latter gave a detailed briefing to the FIA DG regarding the matter.

Furthermore, the Cyber Crime Wing of the FIA said that it issued a notice to an official of Binance (a popular cryptocurrency exchange). Binance is mostly used in Pakistan, therefore it is taken as a major factor in the probe of the mega-scam.

In addition to that, Dr. Sanaullah Abbasi during the meeting also examined the recent crackdown on money exchange dealers and smuggling of US dollars across the borders to Afghanistan. He also directed the authorities to ramp up the crackdown.  As the supply of US dollars in Afghanistan started to drop significantly after the Taliban takeover, few exchange companies and individuals in the country had begun to smuggle dollars across the border.

Check out?  FIA to Freeze Accounts &Credit Cards of those Involved in Crypto Trading