PTA Imposes Ban on 40+ Loan Apps After Tragic Suicide in Rawalpindi

A tragic incident happened in Rawalpindi a week ago concerning loan apps in which one individual committed suicide. As per the details, he was being blackmailed by the respondents of a certain loan app after which he decided to kill himself as he was unable to pay the loan. Subsequently, Federal Investigation Authority (FIA) started a crackdown 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 40+ Loan Apps

The Ministry of Information Technology directed the relevant authorities to crack down on scammers and fake loan apps in the country, after the tragic incident.

Federal Minister for IT and Telecom Syed Amin ul Haque stressed the importance of the situation and urged the PTA chairman to swiftly address the issue. Therefore, in line with the directives of the minister, stringent actions have been started against illegal loan apps.

PTA also took the SECP (Securities and Exchange Commission of Pakistan) onboard to guarantee a wide range of measures as part of the crackdown. Furthermore, the minister advised citizens to report any such fraudulent loan applications to the PTA, Federal Investigation Agency (FIA), Cybercrime Wing, and local police.

People can certainly play an important role by reporting such instances in minimizing scams and safeguarding others from falling victim to financial exploitation. Moreover, 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 wing to proactively take action against dishonest individuals, rather than solely relying on complaints.

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