⚠️ Warning: Systematic Company Hijackings and Extortion — Involvement of Zafar Iqbal
Over the past several months, we have encountered a series of fraudulent schemes involving the same individual — Zafar Iqbal — along with affiliated persons and email addresses. These schemes include unlawful company hijackings, falsified documentation, extortion, and the provision of fraudulent services.
Exposing Zafar Iqbal's Fraudulent Activities
A UK-registered company holding a Canadian FMSB licence was acquired by our client in March 2024. The full purchase price was paid, including additional fees for submission of documents to the Canadian Central Bank (PRAA) under updated regulations.
Shortly after our client decided to replace the AML Officer with their own appointee, Mr. Iqbal began threatening to revoke the licence unless payment was made for his services as AML Officer.
When this tactic failed, Mr. Iqbal unlawfully accessed Companies House and reassigned company ownership to himself, without legal consent.
It was later confirmed through legal due diligence that no documents had ever been submitted to the Canadian regulator, despite full payment being made.
Additionally, Mr. Iqbal claimed that a person using the email linda.kokan.advisor@gmail.com was a “local Canadian attorney” assisting with the licensing process. This identity could not be verified, and no legal basis for her involvement could be established.
JAMIL Waqas - Involved to Zafars fraudulent activity
Company number 14849914 (UK registry) / SIGMA LAYER LTD
We believe this company is now being re-listed for sale under false pretenses.
"
Case 2: Seychelles Company with FMSB Licence
Another client acquired a Seychelles-based company from Mr. Iqbal that also supposedly held an FMSB licence.
He provided documents indicating ownership had been transferred, but upon contacting the local registry, the client discovered that:
Ownership had never been legally transferred, and
All documents provided were falsified.
Despite full payment, the client was left with no legal ownership of the entity.
Case 3: Australia & New Zealand – Payment for AUSTRAC Licences, No Action
A third client paid a 50% advance for AUSTRAC licence applications in both Australia and New Zealand.
Over the course of more than six months, Mr. Iqbal consistently delayed progress, offering vague explanations and repeated promises that the process was “in progress” or would be completed “next week.”
Despite multiple follow-ups, no meaningful steps were taken, and no documentation was ever provided to demonstrate that the applications had been initiated.
Ultimately, the client was forced to engage separate service providers to complete the licensing process independently — incurring additional cost and delays.
To date, Mr. Iqbal has neither completed the work nor issued a refund. His actions demonstrate a pattern of non-performance following partial payment.
Case 4: US (Montana) Company with FMSB and FinCen Licences
In July 2024, a client purchased a Montana-based company with both FMSB (Canada) and FinCen (USA) licences.
Ownership was seemingly transferred on paper, but a crucial UBO confirmation document was never provided.
Mr. Iqbal falsely claimed that Montana did not issue such documentation — later confirmed to be untrue by U.S. attorneys.
He demanded further payment for RPAA documentation submission to the Bank of Canada, then threatened to withdraw support and revoke licences if not paid.
Eventually, he reassigned the company back to himself via FinCen registry without legal authority.
Case 5: US (Delaware LLC) Company with FMSB and FinCen Licences
In September 2024, a client fully paid for a Delaware LLC with FMSB and FinCen licences. The package included:
Apostilled documents,
Updated Operating Agreement,
Membership certificate,
Submission of PRAA policies to the Canadian Central Bank.
The FinCen licence appeared updated publicly.
However, FMSB licence updates were never completed, and only fabricated screenshots of regulator emails were provided.
Fintrac registry data still did not reflect the client’s ownership or website updates.
Mr. Iqbal again demanded payment for extending AML Officer services, then began threatening licence revocation and reversing ownership.
To date, he has:
Not provided any proof of FMSB licence reassignment,
Failed to deliver apostilled documents or PRAA-compliant materials, despite full payment.
🔁 Fraud Pattern
In all cases, a clear and repetitive fraud pattern emerges:
A company with FMSB or FinCen licence is offered for sale — often at lower-market prices.
Ownership appears to be transferred, but:
Either a hidden stakeholder remains in the structure,
Or falsified documents are used to mislead the buyer.
Once the buyer requests licence updates or AML replacement:
Mr. Iqbal demands additional unjustified payments,
Issues threats of licence cancellation or reversion of ownership.
If the client resists:
Mr. Iqbal reclaims control using retained access or hidden authority, nullifying the sale.
📌 Known Contact Details Associated with Zafar Iqbal
Telegram accounts:
@Zafarpk7861
@zafarpk786
@Surgebanking
@Primefintech
Emails:
Associated individuals:
Sajjad, Hassan
Jamil, Waqas
These individuals have been mentioned in various publications related to fraud schemes, including:
Times of India: “Sham call centre busted, 7 arrested” — listing Mohammad Zafar Iqbal as the ringleader of an international scam operation.
https://www.sakshipost.com/news/fake-international-call-centre-busted-gurugram-7-held-195625
📢
Public Record: Zafar Iqbal Named in Indian Call Center Scam Investigation
According to multiple news reports, including Times of India and SakshiPost, Mohammad Zafar Iqbal was identified as the alleged ringleader of a fraudulent call center operation based in Gurgaon, India, that targeted foreign nationals.
In this operation, scammers impersonated representatives from companies such as PayPal, Amazon, Norton, and others, contacting individuals in Australia and the United States under the guise of technical support. Victims were deceived into:
Transferring money via gift cards (typically $250–$300), or
Granting remote access to their computers via AnyDesk, resulting in theft of personal and financial data.
Seven individuals were arrested, and formal charges of fraud and deception were filed under Indian criminal law.
This public incident highlights Zafar Iqbal’s direct association with known international fraud schemes, further reinforcing the credibility and severity of the corporate cases we have documented.
17.08.1987
Zafar Iqbal Muhammad
Pakistan / UK
⚠️ Public Alert
Given the consistent pattern of behavior across jurisdictions — including the UK, Canada, Seychelles, the United States, Australia, and New Zealand — and Mr. Iqbal’s prior identification in an international scam investigation, we strongly urge:
Extreme caution when dealing with Zafar Iqbal, his associated contacts, or entities bearing his involvement.
Avoidance of any business relationships, licensing transactions, or financial engagements with him or companies under his control.
Immediate verification of any offers involving regulated financial services, MSB licences, or corporate restructuring tied to his name.
If you believe you have been affected, we recommend consulting with legal counsel and reporting the incident to the relevant authorities in your jurisdiction.
Contact Us
Reach out to report fraud or seek assistance regarding Zafar Iqbal.