ISLAMABAD: Pakistan’s anti-crime agency has arrested nine suspects involved in blackmailing citizens after lending them money through loan apps, the Federal Investigation Agency (FIA) said in a statement on Friday, following a widely reported incident of a man who took his own life after being harassed by loan sharks.

A 40-year-old man from Rawalpindi city reportedly committed suicide this week after he was unable to return the loans that he took by using a number of mobile apps. People running the apps started threatening him on a daily basis, compelling him to take his own life, his wife told the local media.

The tragic episode comes as annual inflation rose to 37.97 percent in May, setting a national record for the second month in a row and adding to Pakistan’s problems of a balance of payment crisis and the risk of a sovereign default. A large number of people in the nation of 220 million are struggling to cope with mounting living costs triggered by a massive depreciation of the national currency and the government’s decision to withdraw subsidies to secure an International Monetary Fund (IMF) bailout needed to stave off economic collapse.

“The FIA’s cybercrime circle in Rawalpindi has arrested nine suspects working for online money-lending apps, who were involved in blackmailing people,” the agency said in a statement, adding that the suspects were found after the cybercrime unit carried out several raids in the city.

“Cases have been registered against 19 suspects involved in the incident, while offices of the loan apps have been sealed.”

The statement added that the suspects were given targets to make 100 to 150 calls per day and pressure people who took loans to pay back the original amount along with hefty interest.

“In addition to calling and harassing the borrowers, the arrested suspects also used to make phone calls to the borrowers’ friends and relatives to exert more pressure,” the statement said, adding that the suspects got access to the personal data of borrowers through the app at the time of signing up.

The FIA added a large number of documents, computers, laptops, and SIM cards were confiscated from the offices of the loan apps during the raids and would be used to facilitate the ongoing investigation.

“Raids are also being conducted to arrest the remaining suspects booked by the police for their alleged involvement in the incident,” the statement added.