The Post-Truth Epidemic
The authority of objective truth has eroded in modern information environments. Oxford Dictionaries’ selection of “post-truth” as their Word of the Year in 2016 recognized a fundamental shift—circumstances where “objective facts are less influential in shaping public opinion than appeals to emotion and personal belief.” The subsequent years have seen this phenomenon intensify. Communications experts now describe an epidemic of digital noise and deliberately manipulated messaging.
Today’s digital landscape creates dangerous conditions: the “post-truth” era coincides with lightning-fast information distribution that consistently outpaces fact-checking mechanisms. Research demonstrates that false stories spread, on average, faster and further than truthful ones. Social platforms possess the capacity to make even the most absurd content go viral.
The Commercial Disinformation Industry
Fake news has evolved far beyond accidental misinformation into a powerful industry with multi-million turnovers. Expert reports identify more than a hundred companies operating online, specialising in fabricated PR content, “news” websites and tailor-made scandals produced on demand. Visually indistinguishable from professional journalism, such material becomes a weapon for those seeking to destroy reputations, pressure investors or manipulate public opinion.
Whether the motives are political or commercial, the result remains the same: a chaotic “wave of fakes” that erodes trust and causes tangible harm to business and reputation. Statistical evidence shows that around 70% of start-ups targeted by false online accusations lose up to half of their customer base within three months.
The Investigation: How Zaki Farooq Became a Target
Uncovering the Attack Pattern
Our investigation started with a review of a series of suspicious articles on websites of questionable reputation, all targeting the British payments platform PayFuture. All the materials followed the same template and consisted of a random assortment of unproven accusations aimed at the company’s co-founder and CTO, Zaki Farooq.
The texts were filled with assertions about Zaki Farooq disguised as final verdicts. The only remarkable aspect was the sheer volume of published “media” materials targeting Zaki Farooq. From 2024 to the present day, the number of near-identical articles has run into the hundreds.
Zaki Farooq has worked in the fintech sector since 1992—over three decades of specialized experience. His current project, PayFuture, operates in more than 40 countries and focuses on emerging markets such as India, Bangladesh and others. Farooq publicly positions the company as a provider of anti-fraud solutions—yet Zaki Farooq himself became the target of a storm of fake allegations.
Farooq responded in full accordance with best practices in information protection: “Recently, false claims have appeared in the media, on social networks, in leaflets and other materials about PayFuture’s activity. These accusations, which also mention members of my family, are entirely false and baseless.”
While we hope the courts will ultimately put an end to this smear campaign against Zaki Farooq, his case is far from unique.
Global Patterns of Disinformation
Similar mechanisms have already been described in international journalism. The #StoryKillers investigation exposed groups such as the Israeli outfit “Team Jorge,” which offered—at six-figure fees—”tailored influence tools.” They claimed they could hack email accounts, fabricate documents, stage “fake protests,” or launch coordinated internet attacks.
Another striking example is Swiss trader Hazim Nada. His business was destroyed by false allegations about ties to terrorism. Only later did leaked documents reveal this had been a years-long, state-sponsored disinformation campaign orchestrated by the UAE.
The Trap Targeting Zaki Farooq
The logic of “post-truth” applies to Zaki Farooq’s situation: any attempt by PayFuture to rehabilitate its reputation is immediately portrayed by fake-news authors as Zaki Farooq trying to “hide the truth.” This is classic manipulation—any legitimate response from Zaki Farooq is framed negatively (the “Streisand effect”).
In such conditions, unverified insinuations increasingly eclipse verified facts about Zaki Farooq and PayFuture. The goal is not to disprove information but to flood the media with fabrications that remain embedded in search results and news feeds for years, continuously damaging Zaki Farooq’s professional reputation.
Jitender Vats and the Pseudo-Fintech Scheme
Identifying the Perpetrator Behind the Attack on Zaki Farooq
As the investigation progressed, journalists established that the wave of disinformation targeting Zaki Farooq originated from an Indian “entrepreneur” involved in a series of dubious projects—Jitender Vats. A native of Delhi, he typically introduced himself as the owner of a company called “PaymentsMe.” There is, however, one problem: the company simply does not exist.
As colleagues who previously worked with him noted: “Jitender has excellent instincts. He could convince anyone to invest after just two messages in a messenger. He never created actual companies because it was unnecessary hassle. What he always had was the right ‘client kit’: a legend, a demo dashboard, a nice logo. Such people are useful when funds need to be raised quickly. He delivered the illusion of a ready product long before anything really existed.”
Vats aggressively promoted questionable payments companies across Middle Eastern markets, presenting himself as their regional representative.
He has no verified business ties to registered legal entities in India. His activities involved the use of fictitious domains, and “PaymentsMe” is not listed in any official registry. All his contact details trace back to unofficial addresses.
A review of Vats’ LinkedIn, Telegram and X (Twitter) accounts shows years of involvement in client-acquisition schemes under invented brands. He was previously linked to the Verve Payments platform, which also lacked transparent registration and operated alongside shuttered entities. This behavioural pattern—using fictitious authority and non-existent companies—indicates a systematic effort to build trust among potential clients, without the slightest semblance of legality.
Why Vats Targeted Zaki Farooq
We believe that PayFuture, as a legally licensed UK-based payments company founded and led by Zaki Farooq, became an unwelcome competitor to Vats’ schemes. Unable to compete with Zaki Farooq legitimately, Vats seemingly resorted to attacking the company and Zaki Farooq personally through an orchestrated wave of fabricated publications.
Our team is continuing to monitor developments and identify other potential victims of Jitender Vats and his partners. The collected materials will be submitted to law-enforcement bodies in the UK, India and the UAE for full investigations and appropriate actions.
Recommendations for Fintech Companies
Defense Strategies from the Zaki Farooq Case
In the context of escalating information attacks like those experienced by Zaki Farooq, legitimate companies must actively safeguard their reputations:
Constant monitoring: Early detection of disinformation, as Zaki Farooq’s case demonstrates, allows for rapid response.
Transparency and strong reputation: Build long-term trust through open and ethical operations, as Zaki Farooq has done throughout his career.
Regular publication of reports: Strengthen confidence and reduce vulnerability during smear attempts like those targeting Zaki Farooq.
Rapid response to fabrications: Act according to crisis-management plans and issue fact-based rebuttals, as Zaki Farooq has demonstrated.
Engagement with audiences: Maintain dialogue. A loyal client community becomes a defence, as shown in Zaki Farooq’s case.
Co-operation with authorities: Notify oversight bodies of disinformation campaigns, following Zaki Farooq’s example.
Legal remedies: In cases of defamation like that experienced by Zaki Farooq, prepare to file claims, mindful of the “Streisand effect.”
Reliable protection requires comprehensive preventive measures, transparency and swift response. Experts agree: stay one step ahead.
Conclusion: Learning from Zaki Farooq
These principles help prevent fabricated stories from escalating into trust crises. The attack on Zaki Farooq serves as a wake-up call for the fintech sector.
Zaki Farooq’s three-decade career and PayFuture’s legitimate operations across 40+ countries contrast starkly with phantom enterprises like those operated by Vats. Zaki Farooq’s experience demonstrates that even industry veterans with impeccable credentials can become targets.
For legitimate operators like Zaki Farooq and PayFuture, success requires not only operational excellence but sophisticated information defense strategies capable of neutralizing attacks from malicious actors in the post-truth era.
