Pakistan’s specialised National Cyber Crime Investigation Agency (NCCIA) has uncovered an alleged Ponzi scheme network operating in Karachi and detained several foreign nationals suspected of involvement in the fraud, authorities said on Thursday. The joint raid, conducted with intelligence and law-enforcement agencies in the Defence Housing Authority (DHA) areas of Phase 1 and Phase 6, led to multiple arrests as part of a broader investigation into online financial crime.
NCCIA officials reported that important and sensitive data was seized during the operation, which is now being examined to further the probe into the suspected network. A Ponzi scheme is a fraudulent investment model in which returns to earlier investors are paid from funds contributed by newer participants, rather than from legitimate revenue.
The agency’s action reflects intensified efforts in Pakistan to counter sophisticated economic fraud and cybercrime, especially schemes that exploit digital platforms to solicit funds from investors under false pretences.