The National Cyber Crime Investigation Agency (NCCIA) on Saturday warned that weaknesses in company registration and banking verification procedures were being exploited by illegal call centres, online betting operators and international fraud networks to launder money and deceive unsuspecting victims.
Addressing a press conference, NCCIA Islamabad and Rawalpindi Additional Director Muhammad Shoaib Khan called for stricter oversight of company registrations and bank accounts, saying inadequate verification mechanisms were enabling criminal networks to move illicit funds through apparently legitimate businesses.
Khan explained that fraudulent operators were registering companies through systems with insufficient scrutiny and subsequently opening bank accounts in their names.
These accounts were then linked to online loan applications, betting platforms and gaming portals, allowing operators to receive, transfer and conceal funds associated with illegal activities.
The NCCIA official said weaknesses in standard operating procedures and Know Your Customer (KYC) requirements were among the factors allowing such operations to flourish.
He emphasised that banks and company registration authorities needed to strengthen their verification processes to prevent criminal networks from exploiting the financial system.
The press conference primarily focused on warning educated young people, particularly university students, against accepting employment at illegal call centres offering unusually attractive salaries.
Khan said many young people were being drawn into such operations by the prospect of earning more than they could through conventional employment, often without fully understanding the nature of the businesses involved.
He urged jobseekers to investigate the legal status of prospective employers before joining call centres or companies operating online financial services.
“Ask them what documents the company has, what registration it operates under, which company they work for, which company is providing the loans, where the money is coming from and who is putting money into these applications,” Khan advised.
He also appealed to parents to take an active interest in their children’s employment and determine whether they were working for legitimate businesses or organisations involved in online scams and fraudulent activities.
The NCCIA official warned that employees of illegal call centres could face serious legal consequences if law enforcement agencies raided their workplaces.
He said young people who became involved in such operations risked being implicated in criminal investigations, even if they had initially joined because of the financial incentives.
“If your son or daughter is arrested in such an operation, the FIR (first information report) becomes part of their record. Tomorrow, when they need a character certificate or apply for a government job, that record can affect them,” Khan cautioned.
He stressed that the consequences of involvement in cybercrime could extend beyond immediate legal proceedings and potentially affect future employment opportunities.
Explaining how fraudulent financial networks operate, Khan said the problem often begins with merchant accounts provided by banks to companies whose registration and ownership details have not been adequately verified.
Once a company is registered, it can open a bank account that is subsequently integrated with online platforms handling financial transactions.
“After the company has been registered, the bank opens an account for it. The operators then take that company’s bank account and integrate it with their online betting or gaming portal,” he explained.
Khan said these arrangements enabled operators to channel money through accounts associated with registered businesses, making it more difficult to distinguish legitimate commercial activity from suspicious transactions.
He added that the NCCIA was preparing recommendations for relevant institutions to strengthen verification procedures, improve monitoring and close loopholes being exploited by cybercrime networks.
The agency’s proposed measures would focus on improving checks during company registration and bank account opening, particularly where accounts are intended to support online financial services.
The NCCIA official reiterated that greater vigilance by financial institutions, employers, parents and young jobseekers was essential to preventing illegal call centres and fraudulent online businesses from recruiting unsuspecting individuals and misusing the banking system.