Pakistan’s financial watchdogs are grappling with a surge in unregulated trading and investment apps that promise high profits but often lead to scams, data theft, and dollar flight. Operating outside the jurisdiction of the SECP and SBP, these apps undermine investor confidence and pose serious economic risks.
Recent cases, such as influencer Ducky Bhai’s alleged promotion of illegal trading platforms, have highlighted how misleading marketing fuels this digital menace. Experts say poor financial literacy and influencer-driven hype are driving millions toward risky, unregulated investments.
🚨 NCCIA Bans 46 Illegal Betting, Forex & Binary Trading Apps in Pakistan 📷#NCCIA #PTA #IllegalApps #BettingBan #ForexFraud #BinaryTradingBan #CyberSafety pic.twitter.com/8HwrBXyg06
— Pakistan Now (@pakistannownews) August 20, 2025
Authorities have begun a crackdown, with the NCCIA declaring 46 mobile apps, including 1xBet, Bet365, and Dafabet, illegal, while PTA has blocked access.
Economists warn the issue extends beyond fraud, as these platforms enable cross-border money transfers and cryptocurrency trading, worsening dollar outflows.
“Every offshore investment made through these apps drains Pakistan’s reserves,” experts caution, urging stronger regulation and public awareness.
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