Karachi: Pakistanis have been defrauded of more than 18 billion dollars in fraudulent cash.
Online apps have been used to defraud Pakistanis of billions of rupees, and online applications have been connected to the worldwide circulation of counterfeit currency.
The FIA Cyber Crime has sent notifications to Binance’s General Manager in Pakistan, as well as the company’s headquarters in the United States and the Cayman Islands.
There was a chance of terrorist funding and money laundering, according to FIA Additional Director Imran Riaz. In Pakistan, Binans identified 11 mobile phone applications through which fraud was committed.
Imran Riaz said that in December, 11 mobile phone applications on which thousands of Pakistanis had registered were abruptly shut down, despite the fact that these thousands of Pakistanis had invested billions of dollars in these programmes.
According to the FIA’s Additional Director, apps were first used to assist with virtual currency trading, and investments in bitcoins, ethers, dodge coins, and other cryptocurrencies were represented on balance sheets.
Experts used to bet on bitcoin on the telegram accounts of apps with 5 to 30 thousand clients and an investment of 100 to 80 thousand dollars on one application, he added.
According to Imran Riaz, the public was enticed in by big earnings through these applications, and the FIA discovered 26 suspicious BINANS blockchain vaults to which money was moved.
He stated that the FIA has requested data from BINANS on these blockchain wallets, and that the FIA is investigating the transaction from Pakistan via BINANS.
Imran Riaz went on to say that Binance is a convenient way for terrorists to fund their operations and launder money, and that he hoped Binance will work with Pakistan in the investigation of these financial crimes.
