easypaisa Digital Bank Dismisses Staff Following Federal Investigation Into Mobile Wallets
easypaisa Digital Bank has reportedly terminated approximately 30 employees over perceived irregularities in aggregator accounts. The exits arrive directly amid an ongoing federal investigation into the mobile wallet ecosystem in Pakistan. Internal sources familiar with the matter confirmed the terminations, marking the first known internal personnel fallout from the wider financial crackdown.
The digital banking sector in Pakistan has experienced rapid expansion over recent years, providing financial services to millions of unbanked citizens. However, this fast growth has also attracted criminal syndicates attempting to exploit digital payment infrastructure. The recent departures at easypaisa highlight the growing regulatory pressure facing financial institutions to monitor merchant accounts and intermediary transactions closely.
Understanding Aggregator Accounts and Their Role in Digital Banking
Aggregator accounts serve as intermediary channels processing merchant transactions at scale. These accounts allow multiple smaller merchants to accept digital payments through a single technical integration with a financial institution. Businesses rely on aggregators to simplify payment processing, while banks use them to manage high transaction volumes efficiently without onboarding every individual merchant separately.
However, several of these aggregator accounts became conduits for illicit financial flows. When internal controls fail or insiders bypass compliance checks, illicit networks can exploit the high volume of transactions to mask illegal funds. Consequently, employees connected to irregularities in those accounts were let go by the institution.
The Federal Investigation Agency Crackdown and the Rs119.93 Billion Gambling Network
The terminations sit within a much larger investigative trail involving federal authorities. The Federal Investigation Agency filed an First Information Report on September 24, 2026. That filing officially exposed a Rs119.93 billion online gambling network operating through digital wallets. Investigators traced approximately Rs8.586 billion through five branchless collection accounts alone. Those accounts processed roughly 10.49 million transactions in total.
Earlier investigations revealed how insiders allegedly compromised easypaisa directly. One suspect reportedly created fake websites to test payment integrations. This testing phase allowed the syndicate to bypass compliance checks entirely. Consequently, bogus corporate accounts connected to offshore gambling platforms. Funds then allegedly passed through swap accounts at Mobilink Microfinance Bank onward to Faysal Bank and Dubai Islamic Bank.
Impact on the Merchant Ecosystem and Competitors
The regulatory crackdown simultaneously devastated the merchant ecosystem attached to easypaisa. Six payment intermediary firms experienced processing delays and settlement problems. International processor dLocal also confirmed investigating related issues. Meanwhile, competitor JazzCash closed over 300 aggregator accounts following Federal Investigation Agency notices.
Separately, JazzCash has not terminated any employees over similar issues so far. However, sources confirm an internal inquiry is currently underway there. The nature and scope of that investigation remain unclear for now, leaving industry observers watching for further developments across the mobile wallet sector.
easypaisa Company Response and Official Stance
easypaisa Digital Bank categorically denies the reported terminations. When contacted regarding the personnel changes, the company issued a formal statement.
easypaisa Digital Bank categorically denies reports suggesting termination of 30 employees. Any employee exits have either been part of business as usual pursuant to applicable policies or have been initiated by the employees themselves to improve their career prospects.
As a regulated financial institution, easypaisa maintains established internal governance, compliance and accountability frameworks and remains committed to upholding the highest standards of regulatory compliance and institutional integrity.
The Bank does not comment on individual employee matters or internal personnel processes.
Regulatory bodies continue to scrutinize digital wallets and microfinance institutions to prevent money laundering and illegal gambling operations. The unfolding situation highlights the critical balance between financial inclusion and stringent risk management. Stakeholders across the banking industry await further findings from federal investigators as the probe expands.
