LOWER DIR: Several individuals from different areas of Lower Dir on Monday complained that they had fallen victim to an online financial scam allegedly being run under the names ‘StoneWall Capital’, which claims to be based in London, UK.

The people told Dawn that the company lured people by offering attractive profit schemes on initial deposits, with the minimum investment set at Rs100,000. However, after receiving payments, the operators allegedly blocked withdrawals and continued to pressure clients into making further deposits under various pretexts.

One victim, who requested anonymity, said he had first learned about the company through a website, which later turned out to be fake. “By the time I realised, I had already transferred Rs100,000 of my hard-earned savings to the company’s account in a local bank,” he added.

Several other victims also confirmed that they had lost their savings to the scheme. They alleged that the company operated through websites, WhatsApp and Telegram groups, using fake profiles to win the confidence of unsuspecting investors. They said that they had proofs and screenshots of payment receipts, website, fund receiver bank account number, WhatsApp chats and email communication made with the company’s accounts managers.

Reports indicate that the company is neither listed on the UK’s Financial Conduct Authority (FCA) register nor authorised to offer investment services. The victims said they were preparing complaints for submission to the FCA, Action Fraud, the UK’s national fraud reporting centre, and Pakistan’s Federal Investigation Agency.

Local cybercrime officials told this reporter that such fraudulent firms often targeted individuals in developing countries by promising unusually high returns as profit. They advised citizens to verify the credentials of any investment platform with relevant regulators before transferring money.

Published in Dawn, September 23rd, 2025