Meezan Bank, Pakistan’s leading Islamic bank, has firmly denied allegations of a data breach after several customers reported unauthorized transactions on their debit cards. The bank has clarified that these incidents are not the result of a security lapse on their end.
What Happened?
Recently, online reports surfaced claiming unauthorized transactions on Meezan Bank debit cards, sparking concerns of a potential data breach. Customers reported losing significant amounts of money, with some transactions being processed in Malaysian Ringgit (MYR) and then converted to Pakistani Rupees (PKR).
A majority of the unauthorized purchases were made on platforms like Facebook and other online websites.
Meezan Bank’s Official Response
Meezan Bank has categorically denied any breach of its systems. The bank stated:
“Our systems remain secure. These incidents are likely due to customers providing their card details on certain websites or applications that do not require OTP (One-Time Password) verification for payments.”
The bank emphasized that such websites can be vulnerable to hacking, making user data susceptible to misuse. Meezan Bank further assured that these occurrences are not linked to any internal security failures.
Customer Impact
- Reported Losses:
Some customers reported losing amounts ranging from tens of thousands of rupees to even higher sums. - Nature of Transactions:
Many transactions were processed in foreign currencies, particularly Malaysian Ringgit, before conversion into PKR. - Customer Complaints:
Meezan Bank disclosed that fewer than ten complaints were officially lodged over the past week regarding these incidents.
Steps Taken by Meezan Bank
Meezan Bank has adopted the following measures to address customer concerns:
- Refund Policy:
The bank confirmed that it has already refunded the losses of nearly all affected customers. - Standard Operating Procedure (SOP):
As per its SOP, Meezan Bank refunds customers for losses resulting from unauthorized transactions caused by third-party websites that bypass OTP verification. - Customer Awareness:
Meezan Bank has urged customers to exercise caution while sharing their card details online and to avoid using unverified websites or applications for transactions.
What Customers Should Do
To prevent such issues, Meezan Bank advises customers to:
- Only use trusted and verified websites or apps for online transactions.
- Enable SMS alerts for every transaction for real-time updates.
- Contact Meezan Bank immediately if they notice any unauthorized transactions.
Conclusion
Meezan Bank’s swift response and transparent handling of the situation reflect its commitment to customer security and satisfaction. While the bank has assured its customers that their systems remain uncompromised, this incident highlights the importance of online transaction safety and vigilance.
For further updates and tips on secure banking practices, stay tuned to reliable news sources.
