Karachi, October 15, 2024 – The Banking Mohtasib of Pakistan (BMP) provided monetary relief totaling Rs 1.06 billion to banking customers during the first nine months of the current calendar year, according to a statement released on Tuesday.
This relief was granted by resolving 18,836 complaints between January and September 2024, underscoring BMP’s commitment to protecting customers’ financial interests.
During this period, BMP received 21,904 new complaints, including 5,277 complaints routed through the Prime Minister’s Portal. The figures mark an increase in complaints from the same period in 2023, when BMP handled 18,431 cases and provided Rs 972.33 million in relief to customers. The rise in complaints highlights the growing concerns of banking customers, especially with the surge in digital and online banking fraud.
Sirajuddin Aziz, the Banking Mohtasib of Pakistan, urged banking customers to remain vigilant and cautious against fraudulent activities, which have become more prevalent in recent years. He emphasized the importance of safeguarding personal and financial information, advising customers not to share their credentials with any third party and to avoid clicking suspicious links received via text or email unless the source is verified and reliable.
Aziz also advised customers to report any suspicious phone calls to their nearest bank branch or to the bank’s helpline. He further encouraged individuals to report such incidents, along with the suspicious phone numbers, to the Cyber Crime Wing of the Federal Investigation Agency (FIA), stressing that prompt action can help prevent fraud and financial losses.
BMP’s efforts in resolving customer complaints and offering financial relief have played a critical role in boosting consumer confidence in Pakistan’s banking sector. The increased monetary relief provided in 2024 demonstrates BMP’s growing efficiency in addressing grievances related to banking transactions, fraud, and service issues.
As digital banking expands, so do concerns over cybercrimes and online fraud, making the role of BMP even more significant. The institution’s consistent efforts to educate the public about financial security and its prompt handling of complaints help minimize the impact of fraudulent activities on customers.
Looking ahead, the BMP’s commitment to customer protection and its collaboration with law enforcement agencies like the FIA are expected to continue enhancing consumer trust and safeguarding the banking system in Pakistan.