Surge in complaints against digital fraud

While expressing concern over the rise in complaints against digital and electronic platforms, Banking Mohtasib Pakistan (BMP) Sirajuddin Aziz disclosed that his institution provided relief of Rs1.65 billion to banking customers on Monday. He said the growth in mobile and digital applications has led to increased incidents of fraud. “During calendar year 2024, a major increase was seen in complaints of frauds and cases of account blockage by banks on one pretext or the other,” he said. He said the increase in complaints was also due to the inefficiency of bank services, adding that the respective stakeholders and the State Bank of Pakistan had been made aware of these issues. He said Rs1.65bn relief was provided by disposing of 27,753 complaints against commercial banks during 2024 compared to monetary relief amounting to Rs1.26bn during 2023.