Banking Ombudsman raises alarm over rise in financial scams
Federal Banks Ombudsman Sirajuddin
Aziz has raised an urgent alarm over the sharp rise in financial scams, urging
the public to stay vigilant and protect their personal banking information.
This warning follows a staggering 27,000 reported cases of electronic and ATM
frauds in 2024.
In an interview with a private news
channel, Sirajuddin emphasized the importance of safeguarding sensitive
information, such as PIN codes and One-Time Passwords (OTPs). He warned that
sharing these details—even with close relatives—can result in severe financial
losses and identity theft.
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"Stay informed, stay alert, and
stay safe," he advised.
He also recommended that individuals
regularly:
· Review account statements
· Monitor credit reports
· Report any discrepancies to their
bank immediately
When using ATMs, he urged the public
to exercise caution:
- Lock the ATM booth door while in use.
- If a card gets stuck, report it to the bank
immediately.
- Avoid entering your PIN in haste, especially in crowded
places, and ensure no one is watching.
Sirajuddin also highlighted the
importance of personal responsibility in banking:
"Customers should fill out their own bank forms and carefully choose the
services they need," he said. This reduces the risk of unauthorized access
and ensures individuals fully understand the services they are using.
He warned the public about common
scams, such as:
- Fake lottery calls and SMS
- "Click to earn money" schemes
- False car prize notifications
Additionally, he advised people to avoid
online financial transactions when unsure of a website's security, as credit
card information can be stolen or misused.
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In response to a question,
Sirajuddin noted that the rise in digital transactions has made scammers more
sophisticated. "Nearly 99% of victims fall for fake calls," he
stated, urging heightened vigilance.
Finally, he called on the media to
take a proactive role in educating the public about banking fraud risks. He
also encouraged victims of fraud to report incidents, ensuring their cases are
heard and justice is pursued.
Source: Urdu Point