In the cooperation with the Securities and Exchange Commission of Pakistan (SECP), Meta has launched a public awareness initiative motivated citizens to remain alert about the growing number of deceptive loan applications circulating on online platforms.
These scam-based applications deceive users by offering them immediate loans on terms of to get access their personal data, that including photos, contacts, and financial details.
User who get the loan from their app, the scammers then exploit their personal information for blackmailing or extortion, which leads to mental distress among the app users and hits the privacy violations as well.
According to this campaign, Scammers commonly disguise themselves as genuine loan providers, persuading people to reveal their private information.
The SECP has urged the public to use only those loan applications that are officially registered on its website (secp.gov.pk) and to stay away from unverified digital lenders.
In case of fraud, citizens are urged to report the incident to the FIA Cyber Crime Wing at 051-111-345-786 or lodge a complaint directly with the SECP.
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