Pakistan is among the top developing countries suffering financial losses of 2.5% of its GDP, approximately $9.3 billion, annually due to scams, according to the Global State of Scams Report 2025 by the Global Anti-Scam Alliance and Feedzai.
The report, which surveyed 46,000 adults across 42 markets, reveals that 70% of global adults encountered scams in the past year, with 13% facing attempts daily.
While Pakistan ranked sixth in terms of the lowest average loss per victim ($139), the cumulative damage amounts to billions in losses. This figure is notably higher than the $7 billion loan Pakistan received from the International Monetary Fund (IMF), underscoring the scale of the country’s scam-related economic damage.
Globally, scams led to $442 billion in losses last year, with shopping scams (54%), investment scams (48%), and unexpected money scams (48%) as the most common types. Wire transfers (29%) and credit card payments (18%) were identified as the primary methods used by scammers to collect funds.
Rehan Masood, Senior Joint Director of Cyber Risk Management at the State Bank of Pakistan (SBP), highlighted the increasing rise of digital fraud as e-commerce and online payments become more widespread. He discussed efforts by the SBP to strengthen cybersecurity measures, including two-step verification and biometric checks, reducing unauthorized access to accounts by 90%.
However, Masood pointed out that most scams occur when victims share sensitive data such as PINs or verification codes, which scammers then use for unauthorized transactions or to trick individuals into transferring money themselves.
The report notes that Pakistan has become a prime target for scammers, exploiting platforms such as SMS, WhatsApp, and social media to lure users into fake investment schemes and online shopping scams. Fraudsters often lure victims with small initial returns, gaining trust before causing significant losses.
Online shopping scams are increasingly common, with fraudsters impersonating courier agents and bank officials to steal card information or trick victims into sharing personal details. Some fraudsters even send fake SMS messages claiming account suspension to extract banking credentials.
To combat these threats, experts emphasize the importance of vigilance, advising customers never to share banking details or click on suspicious links.
