President Dr. Arif Alvi ordered two private banks on Sunday to reimburse the victims of internet frauds for the money they had lost, rejecting their explanations.
In order to ensure that the banking industry refrains from extending banking facilities to individuals who have been proven to be fraudulent, the president has instructed Banking Mohtasib to pursue the issue of banking frauds with the State Bank of Pakistan (SBP) and obtain the necessary standard operating procedures (SOPs).
In a statement, President Secretariat Press Wing stated that he had instructed the banks to reimburse their clients who had been deceived by online banking scammers with payments of Rs1.9 million and Rs0.744 million, respectively.
