The Pakistan Telecommunication Authority (PTA) has taken major action against online financial fraud by blocking 604 URLs associated with fake social media accounts and deceptive schemes, according to an official document.
The document reveals that cybercriminals are increasingly using fake social media accounts to lure unsuspecting users into depositing money in fraudulent bank accounts. These scams are often disguised as investment opportunities, job offers, or prize schemes to gain victims’ trust.
The Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP) have been working jointly to identify such fake accounts using a dedicated e-portal. Government agencies register their complaints through this portal, which are then forwarded to the PTA for immediate action.
In response, the PTA has asked major social media platforms to block accounts involved in financial fraud. The authority has specifically demanded the permanent suspension of repeat offenders to deter future scams.
However, the crackdown faces significant challenges. According to the document, technical and legal obstacles — including the use of fake identities, Virtual Private Networks (VPNs), and jurisdictional limitations — often hinder efforts to trace and prosecute the perpetrators behind these scams.
Despite these hurdles, the PTA continues to collaborate closely with regulatory bodies and law enforcement agencies to enhance monitoring and enforcement. In addition, the authority is actively running a public awareness campaign to educate citizens about financial scams involving fake accounts.
