Banking Mohtasib provides Rs1bn relief

KARACHI: The Banking Mohtasib of Pakistan (BMP) provided the complainants with almost Rs1 billion in relief in the first nine months of the current calendar year.

However, what is more serious is the increasing number of online frauds damaging the State Bank of Pakistan’s move to digitise the entire payment system.

According to a BMP press release, 18,836 complaints were disposed of during the January-September period.

During this period, BMP received 21,904 new complaints, including 5,277 routed through the Prime Minister’s Portal. The figures mark an increase in complaints from the same period in 2023, when BMP handled 18,431 cases and provided Rs972.33m in relief. The rise in complaints show the growing concerns of banking customers, especially with the surge in digital and online banking fraud.

Published in Dawn, October 16th, 2024