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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 “Banks and various institutions continue to face significant security challenges, with outdated cybersecurity systems requiring urgent upgrades,” he added.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

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