A man accused of operating an online counterfeit postage scheme that cost the US Postal Service more than $126m has been arrested in Pakistan, the country’s cybercrime agency said on Tuesday.Faheem Akram, 33, was detained after a search spanning several weeks that involved raids across multiple regions, Atif Ameer, senior official at the National Cyber Crime Investigation Agency, told reporters.Mr Akram, a resident of Khanewal in eastern Punjab province, was indicted by a federal grand jury in the Southern District of Florida, according to a statement from the US Attorney’s Office on 28 September.Prosecutors alleged that he operated Labels Bank, an unauthorised online platform that sold over 5.1 million fake postage labels to more than 5,200 customers. The labels were typically priced at $2 each, regardless of a parcel’s weight, size, or destination.The counterfeit labels permitted customers to dispatch parcels at rates drastically below official postage costs, resulting in lost revenue and shipping expenses for the Postal Service.US prosecutors noted that the estimated loss of over $126m reflected the damage to the service rather than direct sales generated by the website.Ameer said Pakistani investigators discovered Mr Akram ran the operation from August 2023 through September 2026, using 16 bank accounts registered to himself, his wife, brother, sister, and aunt.It remains unclear whether Mr Akram will face trial in Pakistan or be extradited to the US.
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