63% increase in financial fraud due to online banking and shopping

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Online banking and shopping has led to a 63% increase in financial fraud with the public.

According to News, with the rise of digital transactions and online banking during the Corona virus epidemic, consumer complaints about banking services have also increased dramatically.

According to the report of the Banking Ombudsman, during the year 2020, the Banking Ombudsman received 25,500 complaints from bank customers, out of which 84% complaints were resolved and a total relief of Rs. 598 million was given to the customers.

15,000 complaints received in 2019 and 25,000 in 2020

Banking Ombudsman Mohammad Kamran Shehzad while releasing the annual report in a press conference said that the Banking Ombudsman received 15,600 complaints in 2019 but the number of complaints reached 25,500 in 2020 which shows an increase of 63% in one year.

Digital banking has led to a significant increase in bank consumer complaints.

This year, the number of complaints will reach 40,000

The rapid rise in complaints during the first two months of this year has led to fears that the number of complaints could reach 40,000 this year.

Complaints from five major banks were high, with 89 per cent men and 11 per cent women affected

Kamran Shehzad said that Overseas Pakistanis are also approaching the Banking Ombudsman, 89% of the complaining customers were men and 11% were women.

The Prime Minister’s Portal also received 10,000 to 12,000 complaints from five major banks. There are more.

Can’t call for recovery at night

The banking ombudsman said that banks could not adopt inappropriate behavior for recovery, no call could be made at night for recovery, women could not be summoned, and fines could be imposed on violating banks.

Do not turn on internet banking without user request

The banking ombudsman said that the bank should focus on spreading awareness among the customers. Due to lack of public awareness, the number of complaints related to internet and ATM digital payments has increased by one thousand per cent.

Do not activate internet banking facility.

Fraudulent calls also come from numbers such as the bank’s helpline

He said that bank customers are being called in the name of various institutions, fraudulent calls are also being made to the customers from numbers like the helpline of banks.

Consumers affected by online fraud have been given huge amounts of money back from banks.

Since its inception, the Banking Ombudsman has issued 2,000 orders, 95 per cent of which have been executed.

Bill submitters can also approach the Banking Ombudsman

He said that customers who submit bills can also approach the Banking Ombudsman. The number of bank customers in the country is 60 million.

34 banks are providing services in the country. In this regard, the Banking Ombudsman is protecting the rights of a large section.

Insurance companies are using bank customer data

To a question, the Banking Ombudsman said that recommendations for protection of consumer records have been sent to the SBP.

It has been seen that the insurance companies call the customers using the data of the banks and have sent recommendations to the SBP in this regard. The bank will issue revised instructions to banks by next month.

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