Pakistan Loses 2.5% of GDP to Scams, GASA–Feedzai Report Reveals

Pakistan ranks among the top developing nations hit hardest by financial scams, losing an estimated 2.5% of its GDP, roughly $9.3 billion, according to the Global State of Scams Report 2025 by the Global Anti-Scam Alliance (GASA) and data science company Feedzai. The figure surpasses the country’s $7 billion International Monetary Fund (IMF) loan by 33%.

The report, based on a survey of 46,000 adults across 42 markets, found that 70% of respondents globally encountered scams in the past year, with 13% facing daily attempts. While Pakistan ranked sixth for the lowest average loss per victim ($139), the cumulative impact is significant. Globally, scam losses reached $442 billion, driven by shopping scams (54%), investment scams (48%), and unexpected money scams (48%). Wire transfers (29%) and credit card payments (18%) were the most exploited channels.

Rehan Masood, Senior Joint Director of Cyber Risk Management at the State Bank of Pakistan (SBP), said the central bank has reinforced its cybersecurity framework, making it nearly impossible to access accounts from unrecognised devices. However, most scams stem from users sharing sensitive data like PINs and verification codes, which are then used for unauthorised transactions or to manipulate victims into transferring funds themselves.

Digital fraud is surging alongside the growth of e-commerce and online payments. The report highlights Pakistan as a prime target for scammers using SMS, WhatsApp, and social media to promote fake investment schemes. Victims are often shown small initial returns to build trust before suffering major losses.

Online shopping scams are also on the rise. Fraudsters impersonate courier agents, bank officials, or police officers to extract verification codes, PINs, OTPs, and passwords—often via fake links or urgent SMS messages. Some pose as friends or relatives in emergencies to deceive targets.

Experts stress that vigilance is the strongest defence. Customers should never share banking credentials and must verify all links before clicking. Banks do not request sensitive information via calls or messages.

Suspected scams can be reported to BrokersView for public exposure.