The Federal Investigation Agency (FIA) has apprehended Muhammad Shariq, the ringleader of an inter-provincial network involved in large-scale online financial fraud across Pakistan. The gang is accused of stealing millions of rupees from unsuspecting victims by employing sophisticated spoofing technology to gain unauthorized access to their bank accounts.
Online scamming has become a rapidly growing issue in Pakistan, with cybercriminals constantly developing new ways to outpace law enforcement. These gangs have learned to exploit advanced digital tactics that enable them to drain bank accounts in a matter of seconds, making it increasingly difficult for authorities to track down and prevent fraud.
Shariq’s criminal network allegedly targeted bank account-linked phone numbers, using them to manipulate the victims’ connections and fraudulently collect money. The group is said to have used cloned apps to manage fake microfinance accounts, each device reportedly creating up to 50 false accounts. Over the course of three years, the gang is believed to have stolen more than Rs40 million from its victims. The network would make daily withdrawals of up to Rs1 million from these accounts.
Investigators discovered that Shariq also provided bank account numbers to other criminal groups, enabling them to expand their fraudulent operations. In addition to spoofing technology, these groups used international phone lines to pose as legitimate officials and gain unauthorized access to the victims’ financial accounts.
During his arrest, FIA officers seized two mobile phones from Shariq that contained crucial transaction records and videos of financial transfers, further linking him to the fraud scheme. These phones also revealed evidence of the gang’s elaborate tactics and connections with other criminal entities.
The FIA has launched a comprehensive investigation into the case and is continuing to work on identifying and arresting other individuals involved in the fraud network. As cybercrime continues to evolve and expand, authorities are ramping up their efforts to combat digital scams that have caused significant financial harm to citizens.
With the growing threat of online fraud in Pakistan, law enforcement agencies are focusing on improving cybercrime detection and prevention methods to counter these sophisticated attacks.