Nov 13

President Alvi orders two banks to pay victims of fraud

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 […]

by Mrs. Anjum Shahnawaz

President rejects MCB Bank’s stance on internet banking fraud

Jul 9

Money & Banking

President rejects MCB Bank’s stance on internet banking fraud

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 […]

by Mrs. Anjum Shahnawaz

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

Apr 17

Money & Banking

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 […]

by Mrs. Anjum Shahnawaz

SBP takes measures for prevention of digital bank fraud

Feb 19

Money & Banking

SBP takes measures for prevention of digital bank fraud

KARACHI: The State Bank of Pakistan (SBP) on Friday taken measures for prevention of digital bank fraud and issued directions to stakeholders in this regards. The central bank said that in collaboration with other stakeholders it had initiated various measures to curtail digital banking frauds, conducted by employing social engineering tactics including fake calls. In […]

by Mrs. Anjum Shahnawaz

Credit card fraud by bank official unearthed

Oct 23

Money & Banking

Credit card fraud by bank official unearthed

ISLAMABAD: The Banking Mohtasib (Ombudsman) has provided a relief to a person, who lost money through credit card transactions that were made fraudulently by a bank official. In its annual report for the year ending December 31, 2019, it revealed the complainant maintaining an account with the bank submitted that he had never availed any personal […]

by Mrs. Anjum Shahnawaz