LAHORE (Web Desk): The National Cyber Crime Investigation Agency (NCCIA) has arrested a man accused of operating a fraudulent online platform that allegedly sold counterfeit US postage stamps and caused an estimated $126 million in losses to the US Postal Service.
NCCIA Additional Director Atif Amir announced the arrest of Faheem Akram during a press conference, saying investigators had traced the alleged fraud to a website designed to bypass the postal service’s system.
According to Amir, the suspect allegedly operated the website for around three years and facilitated the sale of approximately five million counterfeit stamps. The estimated financial loss has been put at $126 million, equivalent to more than Rs35 billion.
The NCCIA’s cyber unit reportedly identified the case on October 6, prompting an investigation into the website and the financial transactions linked to the alleged scheme.
Amir said investigators traced 16 accounts allegedly used in connection with the fraud. A 10-day operation was subsequently conducted to locate the suspect, who belongs to Khanewal. He was arrested on Tuesday morning, according to the agency.
A case has been registered against the suspect, while further investigation is expected to establish the full extent of the alleged operation and identify any other individuals who may have been involved.
The case highlights the challenges law enforcement agencies face in investigating cross-border cybercrime, particularly when fraudulent websites exploit digital systems to facilitate transactions involving foreign institutions.
Authorities have not provided further details about possible international coordination or the recovery of the alleged proceeds. The allegations remain subject to investigation and judicial proceedings.
