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President Alvi takes notice of online banking frauds after novelist deprived of Rs1.1 million

Web Desk 09:12 PM | 21 Jan, 2023
President Alvi takes notice of online banking frauds after novelist deprived of Rs1.1 million
Source: File Photo

ISLAMABAD – President Dr Arif Alvi has taken serious notice of the rising trend of online banking frauds where fraudsters obtained contact details of banks’ clients by impersonating as bank officials to get account and banking information and then using these details to swindle money out of clients’ accounts.

The president directed the Banking Mohtasib of Pakistan to take serious notice of this worrisome trend and take substantive, meaningful, and effective steps by placing appropriate checks and balances, and foolproof security systems by using technology capable of differentiating between the genuine and fraudulent transaction attempts to curb this menace on an urgent basis, President Secretariat Press Wing said in a press release on Saturday.

The president expressed his concern over the news reports about an online bank fraud wherein renowned novelist and playwright, Mirza Athar Baig, was deprived of Rs 1.1 million from his bank account by an online fraudster.

The president’s secretariat, under the direction of the president, has asked Mirza Athar Baig to lodge a complaint and formally raise the matter with the BMP to get relief if the bank was unable to resolve his issue and compensate him within the stipulated time period.

The president said that it was upsetting that fraudulent activities and practices were on the rise in the banking sector despite the fact that hundreds of such fraud cases had been decided by him through the Banking Mohtasib of Pakistan (BMP) and relief had been provided to the affectees of the online frauds.

He also stressed upon the need of bringing about structured and systematic improvements in online banking mechanisms by immediately identifying the fraudulent persons and taking strong exemplary punitive actions against them.

The president emphasized that all the banks should collectively launch an awareness campaign through all forms of media, conventional and digital, to educate bank customers about the secure use of online banking platforms, besides ensuring compliance with the State Bank of Pakistan’s directions and prescribed SOPs regarding the use of online banking facilities with ease, comfort, and security.

Web Desk
Web Desk

Daily Pakistan Global Web Desk

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 03, 2023 (Friday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 272.25 273.25
Euro EUR 297.32 297.65
UK Pound Sterling GBP 333.31 333.61
U.A.E Dirham AED 73.03 73.33
Saudi Riyal SAR 71.49 71.80
Australian Dollar AUD 188.9 191.3
Bahrain Dinar BHD 712.73 720.73
Canadian Dollar CAD 200.95 203.15
China Yuan CNY 39.67 40.07
Danish Krone DKK 39.11 39.51
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 877.76 886.76
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.76 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.3

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 212,900 on Friday. The price of 10 grams of 24k gold was recorded at Rs182,530.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 212,900 PKR 2,420
Karachi PKR 212,900 PKR 2,420
Islamabad PKR 212,900 PKR 2,420
Peshawar PKR 212,900 PKR 2,420
Quetta PKR 212,900 PKR 2,420
Sialkot PKR 212,900 PKR 2,420
Attock PKR 212,900 PKR 2,420
Gujranwala PKR 212,900 PKR 2,420
Jehlum PKR 212,900 PKR 2,420
Multan PKR 212,900 PKR 2,420
Bahawalpur PKR 212,900 PKR 2,420
Gujrat PKR 212,900 PKR 2,420
Nawabshah PKR 212,900 PKR 2,420
Chakwal PKR 212,900 PKR 2,420
Hyderabad PKR 212,900 PKR 2,420
Nowshehra PKR 212,900 PKR 2,420
Sargodha PKR 212,900 PKR 2,420
Faisalabad PKR 212,900 PKR 2,420
Mirpur PKR 212,900 PKR 2,420

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