From past few years, Pakistan witnessed a surge in online frauds and scams, there are a lot of applications out there offering easy access to funds and financial help by money investment but scamming people.
The platforms appears as ray of hope for both poor and wealthy person and force them to invest money for huge profits, leaving thousands of people devastated and billions of rupees lost.
The fraudulent applications attract a lot of individuals by offering quick and substantial returns for investing small amounts.
Two Way Verification System
By the initial amount of gaining money, people are encouraged to invest more and lured by the promise of even greater rewards. The scammers also use two-way verification systems to ensure people about the truth.
A large number of people from all fields of life had fallen prey to the manipulative tactics of these online scame. Despite the devastating loss, some victims were enticed by the same scammers to reinvest agai .
Numerous loan apps in Pakistan are also experiencing a similar pattern of exploitation. The Securities and Exchange Commission of Pakistan also took action and banned several fake investment applications. People are advised to not trust any of loan apps outside as most of it are scam and not working properly.