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Digital Fraud increase 63% in Pakistan during Pandemic

Rising Internet banking and shopping in Pakistan is a source of financial fraud. Digital Fraud in Pakistan, according to the new report, has risen by 63%. Consumer fears about financial networks have grown dramatically during the COVID-19 outbreak when online shopping and internet banking were increased.


According to details submitted by the Banking Ombudsman's survey, in 2020 over the previous year, 25,500 bank complaints were lodged, 84% of the complaints have been filed and almost PKR598 million allocated to the plaintiffs. In 2020 the sum of 25,500 bank complaints had been filed.

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During the press conference, Mohammad Kamran Shahzad reported that in 2019 15 600 cases were reported, but during the lockdown, there were increased complaints and 25 500 complaints last year.


The number of Digital banking users grew while also generating significant issues in digital banking in 2020 during the lockout. In addition, the number of reports reported in the first two months of last year has unexpectedly grown and is predicted to hit 40,000 in 2020.

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According to the complaints survey, 89% of the victims of financial crime were men and 11% of the victims of complaints were women. Mr. Shehzad said that Pakistanis in the Overseas countries are now requesting assistance from the Ombudsman for Banking. 10,000 to 12,000 reports have been received on the platform; most of them involve 5 major banks.


The Financial Ombudsman explained that banks should not follow the incorrect actions of restoration and threatened to fines for banks' inappropriate conduct. He also said that online banking should not be activated without the permission of the customer and that banking should focus on delivering the information to customers in order to deter online fraud. Due to lack of awareness about online activities, complaints about online purchases have risen by 1000%.

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