FIA traces Rs120 billion in suspected gambling payments through shell firms
JazzCash has closed or suspended more than 100 aggregator accounts as investigators examine how single member companies moved money through wallets and banks.
Pakistan's Federal Investigation Agency has traced about Rs120 billion in suspected online gambling payments that passed through digital payment channels, according to reports from TechJuice and the Pakistan Observer published in October 2026. The allegations are under investigation and have not been tested in court.
The FIA's Faisalabad Composite Circle is examining 11 single member companies. The Pakistan Observer reported that they recorded Rs119.93 billion in credit turnover and Rs118.80 billion in outflows. Five branchless banking collection accounts reportedly received about Rs8.586 billion in roughly 10.49 million transactions.
TechJuice reported that an FIR names eight suspects under the Foreign Exchange Regulation Act and the Pakistan Penal Code. Two of them, Muhammad Zeeshan and Muhammad Hamza, are in custody, and raids are continuing. The report lists six gambling platforms said to be linked to the case.
What it means for wallets
TechJuice said JazzCash has closed or suspended more than 100 aggregator accounts. It added that, according to sources close to the investigation, investigators are questioning JazzCash staff about how the company accounts were opened. JazzCash did not respond to TechJuice's request for comment, and the outlet said Easypaisa declined to comment publicly.
The Pakistan Observer was careful to add that the case does not by itself establish wrongdoing by Easypaisa, JazzCash or the banks whose accounts appear in the reported financial trail. It also said the turnover figures do not prove that all the money came from gambling.
TechJuice noted that the State Bank of Pakistan introduced a new framework for payment intermediaries in May 2026. The case is likely to test how closely wallets and banks vet the aggregators and merchants that use their rails.
Reported from the Pakistan Observer and TechJuice, which cite the FIA and the reported FIR.
