KARACHI: Nearly 40 percent of cyber fraud cases involve financial scams, according to Muhammad Tariq Nawaz, Additional Director of the National Cyber Crime Investigation Agency (NCCIA), Karachi Zone. Nawaz emphasized the need for stronger institutional coordination and public awareness to combat the growing threat of cybercrime. He shared these insights during his visit to the Korangi Association of Trade and Industry (KATI), where he addressed members of the business community.

According to Korangi Association of Trade and Industry, the event, which included KATI President Muhammad Ikram Rajput and other prominent members, focused on the increasing sophistication of cybercrime networks. Nawaz highlighted that organized criminal groups are often behind these crimes, exploiting sensitive information to deceive citizens. He announced that NCCIA and KATI would collaborate to create a joint platform for business community awareness and complaint resolution regarding cyber-related incidents.

Nawaz also mentioned the establishment of cyber crime reporting centers across Pakistan, with plans to expand the network to improve access and response. A proposal has been submitted to establish a National Cyber Fraud Management Center for timely sharing of information about fraud victims with relevant institutions.

KATI President Muhammad Ikram Rajput observed that as the world moves toward a digital economy, Pakistani sectors are increasingly dependent on digital systems, which heightens exposure to cyber threats. He emphasized the critical role of cyber security in business continuity and economic stability and proposed appointing a focal person between KATI and NCCIA to enhance awareness and information dissemination.

Deputy Patron-in-Chief Zubair Chhaya and Standing Committee Chairman Danish Khan echoed the importance of public awareness and closer collaboration between KATI and NCCIA to strengthen trust within the business community and curb cyber-enabled crime.