ISLAMABAD, The Securities and Exchange Commission of Pakistan (SECP) and the Federal Investigation Agency (FIA) have signed a memorandum of understanding (MoU) to enhance cooperation and information sharing. This agreement, inked by SECP Chairman Akif Saeed and FIA Director General Mohsin Hassan Butt, aims to protect Pakistan’s digital financial system from cybercrime and fraud.

According to Securities and Exchange Commission of Pakistan, the MoU establishes a formal mechanism for collaboration and capacity building between the two organizations. SECP Chairman Akif Saeed expressed gratitude to the DG FIA for the cooperation and highlighted the need for FIA’s assistance in training SECP officers, especially in forensic evidence collection. DG FIA Mohsin Butt affirmed the MoU’s role in facilitating shared resources and infrastructure, which will lead to more effective investigations into illegal deposit taking and frauds. Both organizations agreed to appoint focal persons in their regional offices for efficient information sharing. The SECP’s head of Prosecution and Legal Affairs, Mr. Muzzafar Mirza, also provided an overview of SECP’s mandate and prosecution mechanism.