Internet banking frauds on the rise

The Nation

LAHORE – The number of complaints has increased regarding unauthorised activation of internet banking and transfer of amounts in millions of rupees, statistics available with The Nation revealed.

Sources in Ministry Interior said that only Cybercrime Reporting Centre Lahore registered 148 inquiries, 10 cases and arrested 29 accused during the year 2018.

HBL remained on the top with 61 incidents of hacking and illegal withdrawal of amounts worth Rs8.9 millions while 22 incidents were reported in ABL in which 33.4 million rupees were withdrawn UBL stood third with 13 incidents of hacking with loss of Rs. 3.5 millions.

An FIA officer seeking anonymity said that modus operandi of the accused was not directly penetrating into the system of banks or data of bank customer. Rather they illegally get the data of customers first through telephonic call pretending to be a bank representative, an Army official or impersonating himself as representative of Benazir Income Support Program (BISP). He said that pace of the fraud increased after census and those involved in BISP fraud or different kinds of lottery shifted themselves to the bank fraud on pretext of getting personal information in the name of census. Several audio recordings went viral on social media where fraudulent peoples were busy in getting personal information from masses in the name of census.

Man y people have lost their money, running into millions, from their bank accounts due to hacking.

Some circles of FIA were of the view that ‘international’ hackers were behind the data breach of all major banks and they were asked through the SBP to protect their data and money of their clients. But the State Bank categorically denied such reports and claimed that no such information or evidence had been provided to it.

The issue concerning bank account holders was also raised in the National Assembly when chairman of the Senate standing committee on interior Rehman Malik sought a comprehensive report from the SBP, the interior ministry and the FIA on the matter within 10 days.

FIA’s Cyber Crime Circle head believes that complaints regarding online stealing of money from the bank has increased over the past few weeks and it is responsibility of the banks to protect the money of their clients.

A banker was of the opinion that it was cal of hour that banks should secure the data of their clients otherwise they would lose confidence of the clients.

In a press statement SBP authorities categorically rejected the impression that any information was provided to SPB by any bank or law enforcement agency regarding breach of data on wider level.

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