President directs HBL to pay Rs. 200,000 to a cook who was scammed online

President Dr. Arif Alvi himself directed the bank to pay this amount as compensation.

President directs HBL to pay Rs. 200,000 to a cook who was scammed online

Habib Bank Limited (HBL) has been ordered to pay an amount of 249,525 to a cook who was scammed online by the President. President Dr. Arif Alvi himself directed the bank to pay this amount as compensation.

He gave this order over a petition filed by (HBL) against a decision of the federal ombudsman.

The bank initially opposed the order however, the President rejected the contention and gave strict orders to HBL to pay Rs249,525 to Ali Muhammad, who is a cook belonging to Rahim Yar Khan. The man was scammed by swindlers who pretended to be bank officials and obtained his bank account through a phone call. The fraudsters got their money transferred through online banking.

The president mentioned that according to the directions given by the State Bank of Pakistan (SBP), banks should ask for consent from the customer before approving an online funds transfer. The bank was unable to provide any kind of evidence to prove that it had complied with the provisions of the law.

He further mentioned that the bank should warn customers about fraudulent and online banking scams on a regular basis. The president further directed them to improve communication with the customers as innocent people are being scammed out of their hard-earned money. This is even done directly from the bank premises.

Earlier, the Pakistan Telecommunication Authority (PTA) alerted customers about the increasing number of fraudulent calls and messages. PTA urged people not to respond to such messages and asked them to report if anything happens.

PTA also strictly warned the public against sharing any kind of financial or personal information. A detailed Press Release was shared to encourage people on how to report such activity. PTA has also advised people to contact the State Bank of Pakistan in case of financial fraud.

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