President directs banks to return Rs 24.136 million to bank fraud victims
President Asif Ali Zardari has directed six banks to provide financial relief amounting to Rs 24.136 million to 31 victims of bank fraud. He gave these directions while deciding upon 31 representations filed against the decisions of the Banking Mohtasib. The president upheld the Mohtasib’s decisions in favour of the victims, delivering justice for the defrauded banking customers.
Twelve representations filed by United Bank Ltd (UBL) were rejected, with the bank being directed to compensate the victims with Rs 11,570,191. In ten cases, Muslim Commercial Bank (MCB) was instructed to refund Rs 5,291,500. Five representations filed by Allied Bank Ltd (ABL) were dismissed, and the bank ordered to return Rs 4,049,742 to affected customers.
Three representations by the Bank of Punjab (BOP) were also dismissed, mandating the bank to refund Rs 2,315,000. Askari Bank Ltd was directed to refund Rs 490,000 in one case, while Habib Bank Ltd (HBL) was instructed to pay Rs 420,000 to a customer in another case.
The victims were defrauded by individuals posing as bank representatives, who acquired sensitive banking details through deceptive phone calls and subsequently drained funds from their accounts.
Upon discovering the fraudulent transactions, the customers approached their banks for redress but were denied relief. The affected parties then sought relief through the Banking Mohtasib, who ruled in their favour. In response, the banks filed separate representations with the president, challenging these decisions.
Hearings were conducted at Aiwan-e-Sadr, and after listening to the petitioners and respondents and perusing the relevant record, the final decisions were delivered.
