FIA to collaborate with SECP to check lending apps malpractices

Cooperation involves capacity building and establishment of forensic lab

ISLAMABAD (Web Desk) – The Federal Investigation Agency (FIA) and the Securities and Exchange Commission of Pakistan (SECP) have agreed to mutual collaboration to check the malpractices of digital lending apps in the country.

In this connection, the agency offered its services for capacity building and establishing a digital forensics lab as the two sides decided to formalise cooperation to protect the country’s digital financial system from cybercrime and fraud threats through the signing of a Memorandum of Understanding.

The development came as FIA Additional Director General Ahmed Ishaque Jehangir visited the SECP headquarters and met its Chairman Akif Saeed to discuss key areas of mutual interest, mainly related to illegal deposit taking and illegal lending apps.