Financial scams: KSBL announces media competition to raise awareness

KARACHI: Aimed at raising scam awareness and mitigation among digital financial services’ users, Karachi School of Business & Leadership (KSBL) has announced to launch the Scam Awareness Media Competition, powered by JazzCash and Mobilink Microfinance Bank.

The initiative is supported by leading institutional patrons, including the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Pakistan Telecommunication Authority (PTA), GSMA, and Karandaaz. The nationwide campaign aims to encourage journalists and bloggers to raise awareness about financial scams and strengthen user protection in Pakistan’s growing digital economy.

Speakers from the session, including Rehan Masood Senior Joint Director, Cyber Risk Management, SBP; Murtaza Abbas Joint Director Investor Education SECP; Dr Khurram Ali Mehran Director General, Consumer Protection, PTA, and Bensen Koh, Senior Policy Manager, Southeast Asia, GSMA emphasized the urgency of tackling digital scams.

They noted that as mobile wallets and online banking become everyday tools, scammers are finding new ways to exploit unsuspecting users from phishing calls and fake SMS messages to counterfeit apps and social media loan offers. Seasonal spikes, they added, are also seen around utility bill payments, government subsidy schemes, and online shopping festivals, underscoring the growing sophistication of digital crime.

Khayyam Siddiqi, Head of Corporate Communication and Customer Care at JazzCash, said that protecting financial services users from scams is crucial as Pakistan moves forward towards becoming a cashless society.

“Scam tactics are constantly evolving from phishing calls to fake wallet apps and we recognize that technology alone is not enough. That’s why we are investing in awareness and education. This initiative reinforces Pakistan’s drive for digital financial literacy and consumer protection, encouraging collaboration to build a safer and more trusted digital finance ecosystem”, he added.

The Scam Awareness Media Competition will serve as a platform for journalists and digital creators to showcase impactful work that educates the public on digital safety.

Submissions will be coordinated by Kamal Siddiqi, a noted journalist, and reviewed by a jury that includes the speakers from the session along with Azhar Abbas, Managing Director of Geo News, and Samia Salik, Gender Lead Women’s Economic and Digital Inclusion at Karandaaz.

Winners will receive prizes and recognition at a ceremony hosted at KSBL.

Copyright Business Recorder, 2025