Recently, Meezan Bank has come under scrutiny as customers report unauthorized high-value transactions on their debit and credit cards. Despite the bank’s assertion that its systems remain secure and no data breach has occurred, affected customers are raising concerns about potential vulnerabilities.
Users have reported losses ranging from Rs1.4 million to Rs2.1 million, with transactions often involving foreign currencies. Many customers claim they never used their cards for online transactions or ATMs, casting doubt on the bank’s security systems. For instance, Malik Zaka from Islamabad reported losing Rs2.1 million through seven unauthorized transactions in Malaysian currency. Similarly, a customer from Lahore experienced a loss of Rs1.4 million without receiving any OTPs or transaction notifications.
Meezan Bank attributes the incidents to unsafe e-commerce practices and assures customers of compensation through international chargeback mechanisms. The bank also advises users to exercise caution while using cards online. However, the lack of clarity has left customers questioning the integrity of the bank’s systems and its transparency in addressing the issue.
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The situation has triggered widespread discussions about the security of digital banking in Pakistan, with many urging financial institutions to adopt stronger safeguards against such incidents.
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