bank fraud Archives - Pkrevenue.com

Bank allows fraudulent transfers via unverified mobile device

April 25, 2025April 25, 2025Shahnawaz Akhter

Karachi, April 25, 2025 – The Banking Mohtasib Pakistan has ordered a major commercial bank to refund Rs1,295,000 to a customer after it allowed fraudulent transfers from his account through a mobile device that was not verified using biometric authentication, violating key security protocols.

President Orders Banking Services Block for Fraudsters

January 21, 2024January 21, 2024Mrs. Anjum Shahnawaz

Islamabad, January 21, 2024 – President Dr. Arif Alvi has taken a firm stand against banking fraud, ordering the blocking of banking services to fraudsters.

President Alvi Orders Allied Bank to Compensate Fraud Victim

November 29, 2023December 10, 2024Mrs. Anjum Shahnawaz

Islamabad, November 29, 2023 – President of Pakistan, Dr. Arif Alvi, has directed Allied Bank Ltd (ABL) to compensate a customer, Ameer Ali Wasan, with Rs 344,600, following the fraudulent transfer of funds from his account. The decision upholds the orders of the Banking Mohtasib, who had earlier instructed ABL to refund the defrauded amount.

SBP directs banks to formulate digital fraud prevention policy to protect account holders

April 15, 2023April 15, 2023Hamza Shahnawaz

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 becomes victim of online bank fraud

January 22, 2023January 22, 2023Mrs. Anjum Shahnawaz

Pakistan’s renowned novelist Mirza Athar Baig has become victim of online bank fraud and lost Rs 1.1 million from his bank account.

HBL ordered to compensate bank fraud victim

June 22, 2022June 22, 2022Mrs. Anjum Shahnawaz

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 […]

SBP directs banks to report digital fraud cases

May 28, 2022May 29, 2022Faisal Shahnawaz

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 […]

NBP directed to pay Rs0.5 million to fraud victim

January 12, 2022January 12, 2022Mrs. Anjum Shahnawaz

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 […]

Habib Bank, Meezan Bank directed to pay fraud victims

November 30, 2021December 1, 2021Mrs. Anjum Shahnawaz

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 […]

President Alvi rejects MCB Bank’s appeal in fraud case

November 25, 2021November 25, 2021Faisal Shahnawaz

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 […]

Tag: bank fraud