President Alvi provides relief to citizens in bank fraud cases worth Rs 1.9 million.

ISLAMABAD -- President Dr. Arif Alvi has provided relief to two victims of bank fraud by ordering Bank Alfalah Ltd (BAL) to refund the defrauded money worth Rs 1.9 million to the respective account holders. The President also ordered the bank to educate its customers about internet banking, digital financial services and other safety measures to safeguard accountholders from banking frauds.

Muhammad Shahzad, an account holder of Bank Alfalah Ltd (BAL), Lahore had tried to withdraw funds using an ATM but the cash was not dispensed even though he had sufficient balance in his account. On further inquiry, it was revealed that an amount of Rs 1,479,255 had been unauthorizedly withdrawn from his account. It was found that a few days ago, the bank had activated the Electronic Funds Transfer (EFT) facility after receiving a phone call from the customer's registered phone number. Subsequently, the funds had been transferred from his account to other beneficiary accounts. Shahzad lodged a complaint with the bank but his grievance remained unresolved.

Similarly, Mrs Asma Attiq, another account holder of BAL, Gujranwala, was also defrauded out of her money when she received a call from the bank's helpline. She shared her personal data with the caller after which an amount of Rs 499,400 was unauthorizedly withdrawn from her account. She also approached the bank for a refund, but the bank did not return her money. Both the complainants separately approached the Banking Mohtasib of Pakistan (BMP) to seek redressal of their complaints, who ordered the bank to refund their lost money. The Bank, in both the cases, chose to contest the decisions of BMP by filing separate representations with the President.

The hearings of both cases were held and the bank took the plea that both customers...