NCCIA Maps 16 Bank Accounts Linked to Khanewal Man in US$126m Postal Fraud Case
Pakistan’s National Cyber Crime Investigation Agency (NCCIA) has registered a case against Faheem Akram, the Khanewal man arrested this week over an alleged US$126 million counterfeit US postage fraud, and an investigation is now under way.
The NCCIA’s Lahore Zone arrested Akram on Tuesday. He is the prime suspect in a case built around LabelsBank.com, a website accused of selling more than 5.1 million fake US postage labels at around US$2 each. Feature Pakistan first reported the arrest of Faheem Akram on October 20.
Investigators have now mapped 16 bank accounts allegedly linked to the case, giving the inquiry its first detailed look at the money trail behind the website.
The bank accounts at the centre of the probe
According to the NCCIA, seven of the 16 accounts belonged to Akram himself. Five were held in his brother’s name, two in his wife’s name, and one each in the names of his sister and his maternal aunt.
The breakdown points to a family-linked network of accounts. Investigators will now examine the transactions moving through each of them to trace where the money came from and where it went.
The agency also clarified the figures at the heart of the case. Transactions through the alleged scheme were worth approximately Rs35 billion, while the US$126 million figure represents the alleged losses to the United States Postal Service, according to the Tribune.
How the alleged scheme worked
Akram allegedly ran the scheme from August 2023 until last month. LabelsBank.com offered counterfeit US postage labels at a fixed price of about US$2 each, regardless of a parcel’s weight, size or destination, letting buyers ship packages well below genuine postal rates.
US court records show more than 5,200 people bought over 5.1 million counterfeit labels through the site. The NCCIA said the website operated from Pakistan and served customers in the United States.
A US court later authorised the seizure and shutdown of LabelsBank.com. The case has become one of the largest alleged postal frauds linked to Pakistan in recent years.
The US indictment behind the arrest
The arrest follows a US federal case announced earlier. The US Department of Justice said on September 28 that a federal grand jury in the Southern District of Florida had indicted Akram, 33, a resident of Khanewal, on charges including conspiracy to defraud the US government, counterfeit postage and wire fraud.
Feature Pakistan covered the US federal indictment when it was announced. Prosecutors allege the site enabled customers to avoid legitimate Postal Service charges by selling fixed, cut-rate labels.
Akram now faces a federal trial in Florida, where the charges must be proven beyond a reasonable doubt. The indictment is only an allegation, and he is presumed innocent until proven guilty.
What happens next
In Pakistan, the joint investigation team will examine the financial records from the 16 bank accounts and determine whether more people were involved in running LabelsBank.com.
The development adds to the NCCIA’s enforcement record, as the agency seeks 300 additional officers from Punjab Police to strengthen its cybercrime capacity across the country.
If the prosecution proves its case, the verdict could rank among the largest cyber fraud convictions in Pakistan’s history. Readers should also know how online banking fraud works in Pakistan and how to stay safe as such scams continue to grow.
Frequently asked questions
Who is the Khanewal man arrested in the US postal fraud case?
Faheem Akram, 33, a resident of Khanewal, Punjab. The NCCIA describes him as the prime suspect in the alleged counterfeit postage scheme.
How many bank accounts did investigators map in the case?
Sixteen. Seven belonged to the suspect, five to his brother, two to his wife, and one each to his sister and his maternal aunt.
How much was the alleged fraud worth?
Transactions through the scheme were worth approximately Rs35 billion. The alleged losses to the US Postal Service were estimated at US$126 million.
What charges does Akram face in the United States?
A US federal grand jury in the Southern District of Florida indicted him on charges including conspiracy to defraud the US government, counterfeit postage and wire fraud.
