ISLAMABAD: The Federal Investigation Agency (FIA) has decided to approach the Pakistan Telecommunication Authority (PTA) to get websites dealing in cryptocurrencies blocked in the country, local media reported on Sunday.
The FIA said earlier this week thousands of Pakistanis had lost their life savings in a cryptocurrency scam amounting to about $100 million, adding that its officials were probing the case by reaching out to Binance which is the world’s largest digital currency exchange in terms of its daily trade volume.
FIA Director General Sanaullah Abbasi told Dawn newspaper his agency “will approach the Pakistan Telecommunication Authority for blocking websites dealing in cryptocurrencies to prevent fraud and possible money laundering.”
“Crypto has given a new dimension to fraud,” Abbasi added.
Pakistan’s central bank on Wednesday recommended banning digital currencies, arguing their use could facilitate capital flight from the country. The recommendation followed another by a committee formed by the Sindh High Court that also urged imposing a “complete ban” on cryptocurrencies.
The recommendations came while the court was dealing with a petition filed in 2019 which sought to overturn the central bank’s April 2018 notification advising banks and payment system operators against processing and investing in virtual currencies.
Officials believe the current ambiguity surrounding the legality of digital currency trade has made it easier for Pakistanis to fall prey to financial scams.
Investigators estimate some 37,000 people, mostly from middle-class households in Punjab’s Faisalabad district, had been defrauded after investing money in a cryptocurrency scheme that promised huge returns.
Pakistan’s premier investigation agency wants websites dealing in cryptocurrencies blocked
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Pakistan’s premier investigation agency wants websites dealing in cryptocurrencies blocked
- The Federal Investigation Agency says thousands of Pakistanis have lost their life savings in a $100 million cryptocurrency scam
- The country’s central bank has also recommended banning digital currencies to prevent capital flight from Pakistan
Pakistan’s Khyber Pakhtunkhwa on alert amid forecast of heavy rain, snowfall
- Pakistan’s Met Office says westerly wave expected to trigger heavy rain, snowfall in northern areas from Jan. 25-27
- Disaster management authority urges district administrations to ensure that precautionary measures are in place
PESHAWAR: The Provincial Disaster Management Authority (PDMA) in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province issued a public advisory on Sunday, calling on district administrations and the tourism department to ensure precautionary arrangements are being undertaken as the province braces for heavy rains and snowfall this week.
Pakistan’s Meteorological Department this week warned that a westerly wave is likely to approach the country’s western parts from Jan. 25 and likely to grip Pakistan’s northern areas on Jan. 26. It warned that this system would trigger heavy rain and snowfall in these parts till Tuesday.
Administrations in Pakistan’s northwestern districts of Khyber and Swat carried out rescue operations on Thursday night after several vehicles were stranded in various parts of these areas. Footage on social media showed officials helping people as heavy snow blanketed vehicles on Tirah Road, Malam Jabba Road and in Nathia Gali.
“The advisory directs district administrations to ensure continuous monitoring of roads, highways, and tourist destinations, keep emergency response teams on alert, and maintain coordination between control rooms and the Provincial Emergency Operations Center (PEOC),” the PDMA said in a press release.
“In addition, hotels and guest houses have been instructed to inform tourists about potential risks and to issue timely alerts related to snowfall and landslides.”
It warned that rain and snowfall may lead to road blockages, slippery conditions, landslides, avalanches, and flash floods in various areas from Jan. 25-27, affecting the general public and tourists.
The PDMA advised people to avoid unnecessary travel, urging tourists not to visit upper and remote areas during the current period of snowfall and heavy rain.
The disaster management authority reassured citizens that it was monitoring the situation closely, urging them to contact the PDMA on its helpline at 1700 in case of any emergency.
Thousands of tourists from all over Pakistan flock to scenic spots in Azad Kashmir, Gilgit-Baltistan, KP and Punjab during snowfall
Citizens often disregard warnings by disaster management authorities of deteriorating weather conditions and roadblocks, leading to emergency situations.
In January 2022, at least 21 people were killed when they were left trapped in their cars during a snowstorm in the Pakistani hill station of Murree.
