Highest monthly complaints of banking frauds, forgeries register in March 2021

Highest monthly complaints of banking frauds, forgeries register in March 2021

KARACHI: The office of Banking Mohtasib Pakistan has said that complaints against banking frauds, forgeries and other regularities were monthly highest received in March 2021 since the inception of Mohtasib office in 2005.

Complaints against banking frauds and forgeries registered massive increase of 135 percent during three months (January – March) of 2021 as compared with same period of the last year.

According to a statement issued on Friday, the office of the Banking Mohtasib Pakistan said that over 135 percent increase had been observed in the number of complaints lodged against alleged frauds, forgeries and other irregularities during the first quarter (January – March) of 2021 as compared to the same period of the last year 2020.

The office of the Banking Mohtasib Pakistan said that 11,732 complaints were received by the Banking Mohtasib Secretariat during the first quarter of 2021 as compared with 4,994 complaints received in the same period of the last year.

“These also include 7,595 complaints received on Prime Minister’s Portal relating to banking issues as compared to 1,411 complaints received during the first quarter of previous year.”

Out of total 11,732 complaints, 5,375 complaints were received in the month of March only, which is the highest figure of complaints recorded in a single month since the inception of Banking Mohtasib Pakistan Office in 2005.

“The increase in number of complaints indicates that the general public feels that their genuine grievances will be resolved amicably by the Banking Mohtasib office,” according to the statement.

The Banking Mohtasib Secretariat disposed of 4,672 complaints from January 01 to March 31, 2021 out of which only two percent of complaints were resolved through formal orders while remaining 98 percent of complaints were resolved amicably.

By disposing of these complaints, the Banking Mohtasib Office has provided monetary relief amounting to Rs132.62 million to the banking customers during the first quarter of 2021.

Banking Mohtasib Pakistan Muhammad Kamran Shehzad urged the general public not to disclose their personal and financial credential to any person in order to protect themselves from any fraud and forgeries.

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