AIRLINK 170.57 Decreased By ▼ -2.58 (-1.49%)
BOP 11.18 Increased By ▲ 0.53 (4.98%)
CNERGY 8.41 Decreased By ▼ -0.11 (-1.29%)
CPHL 99.73 Increased By ▲ 2.27 (2.33%)
FCCL 46.60 Decreased By ▼ -0.65 (-1.38%)
FFL 15.15 Decreased By ▼ -0.27 (-1.75%)
FLYNG 27.55 Decreased By ▼ -0.58 (-2.06%)
HUBC 137.78 Decreased By ▼ -1.13 (-0.81%)
HUMNL 12.92 Increased By ▲ 0.11 (0.86%)
KEL 4.54 No Change ▼ 0.00 (0%)
KOSM 5.36 Decreased By ▼ -0.19 (-3.42%)
MLCF 62.40 Increased By ▲ 0.14 (0.22%)
OGDC 212.16 Decreased By ▼ -2.59 (-1.21%)
PACE 5.42 Decreased By ▼ -0.13 (-2.34%)
PAEL 47.18 Increased By ▲ 2.32 (5.17%)
PIAHCLA 18.48 Decreased By ▼ -0.22 (-1.18%)
PIBTL 10.36 Decreased By ▼ -0.38 (-3.54%)
POWER 12.33 Increased By ▲ 0.07 (0.57%)
PPL 169.60 Decreased By ▼ -4.27 (-2.46%)
PRL 35.85 Decreased By ▼ -0.37 (-1.02%)
PTC 23.09 Decreased By ▼ -0.47 (-1.99%)
SEARL 96.26 Increased By ▲ 0.95 (1%)
SSGC 39.52 Increased By ▲ 0.39 (1%)
SYM 13.84 Decreased By ▼ -0.18 (-1.28%)
TELE 7.15 Decreased By ▼ -0.08 (-1.11%)
TPLP 10.03 Decreased By ▼ -0.26 (-2.53%)
TRG 63.48 Decreased By ▼ -1.20 (-1.86%)
WAVESAPP 9.99 Decreased By ▼ -0.05 (-0.5%)
WTL 1.31 Decreased By ▼ -0.02 (-1.5%)
YOUW 3.66 Decreased By ▼ -0.04 (-1.08%)
BR100 12,305 Decreased By -186.6 (-1.49%)
BR30 37,415 Decreased By -278.7 (-0.74%)
KSE100 114,853 Decreased By -1335.9 (-1.15%)
KSE30 35,217 Decreased By -533.1 (-1.49%)

KARACHI: Mujahid Akbar, Additional DG FIA, on Friday revealed that the opening of bank accounts using identities of drivers and employees for illegal fund transfers is still happening in the country.

Speaking at a briefing held at FPCCI, Mujahid Akbar revealed alarming statistics about the rising cyber crime rates in Pakistan. “The agency has received over 100,000 cyber crime complaints nationwide, with Karachi alone accounting for 29,000 cases,” he said.

“Despite the increasing smartphone penetration in Pakistan, adequate cybersecurity measures have not kept pace,” Akbar stated.

He emphasised that while educated individuals surprisingly constitute the largest group of cyber crime victims, the perpetrators often operate from remote areas, making detection and enforcement challenging.

The FIA official highlighted several critical issues plaguing the country’s cybersecurity landscape. “Banks and various institutions continue to face significant security challenges, with outdated cybersecurity systems requiring urgent upgrades,” he added.

“A particularly concerning trend involves the opening of bank accounts using drivers’ and employees’ identities for illegal fund transfers,” Additional DG FIA said.

While discussing enforcement capabilities, Akbar said that although forensic facilities exist for cybercrime investigation, they lack modern technology. The government has responded by deciding to enhance penalties for hackers and cyber-criminals.

He warned about sophisticated scam techniques, including fraudsters impersonating government institutions and exploiting customer data. He pointed out a significant vulnerability in the system: the ease of obtaining SIM cards in Pakistan, with multiple SIMs being issued from single devices, leading to increased fraudulent activities. “Public awareness is our primary defense against cyber crimes.”

He advised citizens that financial institutions never request personal data over phone calls, urging vigilance against such scam attempts.

Saquib Fayyaz Magoon, SVP FPCCI, Asif Sakhi, vice president FPCCI and others attended the event.

Copyright Business Recorder, 2024

Comments

Comments are closed.