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Cyber Crime makes up 40% online financial fraud, says NCCIA official

NCCIA and KATI would jointly develop system which industrialists and business owners could report cybercrime complaints

KARACHI: Additional Director of the National Cyber Crime Investigation Agency (NCCIA) Karachi Zone, Muhammad Tariq Nawaz, said nearly 40 percent of cybercrime cases are linked to financial fraud.

He stressed the need for better cooperation between institutions and greater public awareness to tackle the rising threat of cybercrime.

He shared these views during a visit to the Korangi Association of Trade and Industry (KATI), where he spoke to members of the business community.

The event was attended by KATI President Muhammad Ikram Rajput, Deputy Patron-in-Chief Zubair Chhaya, Senior Vice President Zahid Hameed, Vice President Muhammad Talha Ali, Standing Committee Chairman Danish Khan, former President Farhan-ur-Rehman, Masood Naqi, NCCIA Deputy Director Arsalan Manzoor, and other members.

Tariq Nawaz said cybercrime reporting centers have been set up across Pakistan and their network is being expanded to improve public access and faster response.

He added that a proposal has been sent to the government to create a National Cyber Fraud Management Center. The center would help share information about fraud victims with relevant institutions in a timely manner.

He also announced that NCCIA and KATI would jointly develop a system through which industrialists and business owners could report cybercrime complaints and receive guidance on online fraud issues.

Tariq Nawaz said cybercrime is often carried out by organized groups that use stolen or leaked information to cheat people. He said protecting personal and financial data and stopping unauthorized access are key steps in controlling cybercrime.

He added that NCCIA is running awareness campaigns through different communication channels and providing practical advice on how to stay safe online.

He urged citizens to remain alert and avoid falling for online scams, warning that criminals continue to invent new fraud methods as technology advances.

KATI President Muhammad Ikram Rajput said the world is moving quickly toward a digital economy. He noted that Pakistan industries, banks, exporters, e-commerce businesses, and supply chains now rely heavily on digital systems.

Rajput said digital growth has created new business opportunities, but it has also increased risks such as cyber fraud, data theft, ransom ware attacks, fake websites, phishing, financial scams, and identity theft.

He said cyber security is no longer only an IT issue but a major concern for business continuity, investment safety, export reputation, and economic stability.

He suggested appointing a focal person between KATI and NCCIA to improve coordination. He also said many businesses still do not fully understand NCCIA’s role and services and called for stronger awareness programs for the business community.

Deputy Patron-in-Chief Zubair Chhaya said cybercrime has increased with the rise in digital activity. He said public awareness is the best way to prevent online fraud and stressed the need to educate businesses about which cases should be reported immediately to NCCIA.

Standing Committee Chairman Danish Khan said cybercrime groups are becoming more organized and often have access to large amounts of customer data.

He said stronger cooperation between KATI and NCCIA would help build trust in the business community and support efforts to reduce cyber-enabled crime. Deputy Director Arsalan Manzoor and Senior Vice President Zahid Hameed also spoke at the event.

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