NCCIA Uncovers $60 Million International Cyber Fraud Ring in Karachi
The National Cyber Crime Investigation Agency (NCCIA) has successfully dismantled an international cyber fraud cartel operating from Karachi, leading to the arrest of 15 foreign nationals and the recovery of approximately 10,000 international SIM cards. The operation, revealed by Sindh Home Minister Zia-ul-Hassan Lanjar, targeted a sophisticated online investment scam that defrauded victims of an estimated $60 million.
Modus Operandi of the International Cartel
According to Sindh Home Minister Lanjar, the scammers built trust over extended periods using social media platforms. They lured victims with promises of substantial returns on cryptocurrency and forex investments. Fake investment platforms were created, providing a facade of legitimacy through fabricated online activity and communications in Telegram groups. Victims were shown inflated profits on these sham portals, unaware that their funds were being siphoned off. SindhNews.com has been following developments closely.
“The victims were made to believe that this is their investment portal login,” Lanjar stated at a press conference. The arrests, a joint effort by NCCIA and other law enforcement agencies, occurred in DHA Phase 1 and Phase 6. Authorities recovered 37 computers, 40 mobile phones, and six unlawful gateway exchanges.
International SIMs Facilitate Cyber Fraud
The recovered international SIMs were crucial for the cartel’s operations. They were used to create fake social media and Telegram accounts to generate a deceptive online presence. These SIMs also facilitated the receiving of PIN codes and one-time passwords needed for account verification, as well as direct communication on platforms like WhatsApp. The NCCIA’s investigation indicates that these foreign SIMs were instrumental in targeting and convincing victims.
Tariq Nawaz, NCCIA Additional Director, remarked, “Crime has no boundaries, and the cyber world has no specific geographical locations.” He emphasized that this bust is likely just the “tip of the iceberg.”
Investigation and Future Steps
The arrested individuals, including three women, were part of a larger group that also involved 19 Pakistani nationals. The investigation revealed a complex process of fund collection and routing, including conversion into cryptocurrency for cross-border transfer to the main beneficiaries. The Sindh Home Minister confirmed that Pakistan’s foreign and interior ministries have engaged with the countries of origin of the involved foreigners.
A judicial magistrate has remanded 22 suspects, including eight foreign nationals, into custody for further investigation under the Prevention of Electronic Crimes Act (Peca) and the Pakistan Penal Code. The NCCIA hopes this decisive action will lead to a significant reduction in online fraud incidents.