Site icon Techlist

Senate Raises Alarm Over Rs. 3 Billion Cyber Fraud in Pakistan

3 Billion Cyber Fraud in Pakistan

Pakistan’s Senate Standing Committee on IT has raised alarm over Rs. 3 billion annual cyber fraud linked to online scams, fake calls, and loan apps. The National Cyber Crimes Investigation Agency (NCCIA) reported that over 60% of complaints involve electronic crimes, with fraud losses underreported. Lawmakers also questioned PTA’s telecom regulation, Jazz tariff approvals, and tribunal delays, calling for stricter oversight of Pakistan’s digital sector.

The Senate Standing Committee on Information Technology and Telecommunications, chaired by Senator Palwasha Khan, has expressed serious concern over the rising wave of cybercrime in Pakistan. Officials from the National Cyber Crimes Investigation Agency (NCCIA) revealed that online frauds, loan app scams, and weaknesses in telecom regulation have resulted in losses exceeding Rs. 3 billion annually.

According to NCCIA, over 60% of all complaints received are related to electronic crimes, with the actual financial damage likely far higher due to widespread underreporting.

Cybercrime on the Rise

Lawmakers were informed that:

Telecom Transparency Concerns

The session also highlighted transparency issues within Pakistan’s telecom sector. Lawmakers criticized the Pakistan Telecommunication Authority (PTA) after audit officials claimed that Jazz’s tariff approvals worth over Rs. 6 billion were processed without full record-sharing.

Former IT Minister Senator Anusha Rahman accused the PTA of damaging the private sector’s reputation by failing to ensure regulatory oversight.

Pending Legal and Regulatory Issues

Concerns were also raised over:

The committee directed the PTA, SECP, and Ministry of IT to provide complete records at the next meeting, while summoning the Law Ministry to explain delays in tribunal appointments.

Exit mobile version