Recently, many people have complained of fraudsters using their Meezan Bank debit cards. Some users suggested this was the case, thanks to a supposed data breach at the bank. However, Meezan Bank has rejected such reports and posted messages to customers to clear them of any confusion about compromised systems.
Meezan Bank explained these are probably customers providing their card details on a website or an application that does not need OTP for purchases. These are more easily hacked and the data stolen could then be used in the wrong way by the hackers.
Several users claimed to have lost large amounts of money, sometimes tens of thousands of rupees. The officials said that most of the transactions were claimed to have been made in the Malaysian Ringgit, which was then converted into Pakistan Rupee (PKR). Most of these purchases occurred on platforms like Facebook or other online services.
Meezan Bank stated that they received fewer than ten complaints regarding this issue over the past week. Almost all of the affected users have been issued with refunds and the statement firmly stated that, in adherence to company policy, they always cover losses incurred through fraud on platforms that do not use OTPs.
The bank then warned its customers against disclosing their card details on insecure sites or applications. Always use platforms that require OTP verification for added security.
Meezan Bank remains committed to ensuring customer safety and addressing issues promptly to maintain trust and confidence.
