The State Bank of Pakistan (SBP) has issued new policy guidelines for banks in the country, instructing them to formulate a digital fraud prevention policy to safeguard their customers’ accounts.
Pakistan’s renowned novelist Mirza Athar Baig has become victim of online bank fraud and lost Rs 1.1 million from his bank account.
ISLAMABAD: President of Pakistan, Dr. Arif Ali Alvi, on Wednesday ordered Habib Bank Limited (HBL) to immediate compensate a victim of bank fraud. President Dr Arif Alvi reprimanded HBL for unnecessarily dragging the matter of reimbursement of a trivial amount of Rs. 39,000 to the victim of bank fraud. READ MORE: SBP takes measures for […]
State Bank of Pakistan KARACHI: The State Bank of Pakistan (SBP) has directed banks to submit reports of all digital frauds and scams related to their account holders. The SBP issued a circular dated May 26, 2022 said it had been decided that all banks and microfinance banks (MFBs) would additionally submit data of all digital frauds and scams […]
ISLAMABAD: The President of Pakistan, Dr Arif Alvi, has directed National Bank of Pakistan (NBP) pay Rs0.5 million to a victim of bank fraud. The president upheld the decision of the Banking Ombudsman and directed the NBP to pay Rs500,000 to the citizen who had been the victim of bank fraud at the hands of […]
ISLAMABAD: The President of Pakistan, Dr. Arif Alvi has directed Habib Bank Limited and Meezan Bank to pay victims of bank fraud. The President rejected the representation of the banks and upheld the decision of Banking Mohtasib (Ombudsman). President Dr Arif Alvi has provided relief to 6 different victims of bank fraud by upholding the […]
ISLAMABAD: President of Pakistan, Dr. Arif Alvi has rejected an appeal filed by MCB Bank against a decision by the Banking Mohtasib (Ombudsman) in a case where a banking customer lost huge money due to fraudulent activity. President Dr Arif Alvi has upheld the decision of the Banking Mohtasib directing a private bank to credit […]
KARACHI: Dr. Reza Baqir, governor, State Bank of Pakistan (SBP) on Saturday held talks with Federal Investigation Agency (FIA) and banks to fight money laundering, cyber attacks, and online bank frauds. Governor State Bank of Pakistan, Dr. Reza Baqir, chaired a meeting today with Director General FIA Sanaullah Abbasi to strengthen and coordinate efforts of […]
ISLAMABAD: Pakistan President Dr. Arif Alvi has ordered two banks i.e. Al Baraka Bank Ltd (ABBL) and Habib Bank Ltd (HBL) to pay their customers in order to provide relief in fraud cases. President Dr Arif Alvi has upheld two different decisions of the Banking Mohtasib (BM) ordering Al Baraka Bank Ltd (ABBL) and Habib […]
ISLAMABAD: President Dr Arif Alvi on Friday rejected the representation of MCB Bank challenging the order of Banking Mohtasib to credit the lost money to its account holder, who had fallen victim to internet banking fraud. The President said the bank’s argument on declaring the unauthorized funds transfer as the customer’s liability for divulging his […]