Digital Fraud Surge: Pakistani Consumers Lose Over $9 Billion Annually to Online Scams

ISLAMABAD:(M.Saleem) Pakistan is facing a massive rise in digital and online financial fraud, with consumers collectively losing more than $9 billion each year, according to recent assessments by cybersecurity experts. The scams, often spread through SMS, WhatsApp, and social media platforms, target citizens with fake investment offers, prize schemes, and fraudulent online shopping portals.

Fraudsters commonly use deceptive tactics such as posing as bank representatives, sending threatening messages about account closures, or creating fake websites to steal personal and financial information. These schemes have resulted in not only heavy monetary losses but also widespread identity theft and data breaches across the country.

Experts warn that as digital banking and e-commerce expand rapidly in Pakistan, cybercriminal networks are becoming more sophisticated and organized. Without stronger cybersecurity regulations, financial oversight, and public awareness campaigns, the financial toll could escalate dramatically in the coming years.

The alarming figures underscore the urgent need for cross-sector collaboration between regulators, telecom operators, and law enforcement agencies to safeguard Pakistan’s growing digital economy from further exploitation.