Meezan Bank customers have recently reported a rise in unauthorized transactions, sparking concern on social media. Several debit and credit cardholders have claimed that charges were made on various websites without their consent. In response, the bank has released an advisory, urging customers to avoid untrusted websites, refrain from using public Wi-Fi for banking, and stay vigilant against phishing scams.
The advisory comes after numerous incidents surfaced, such as a complaint from Nouman Younas, Co-founder of AwamiWeb, who reported unauthorized transactions totaling Rs1.4 million made on Facebook in Malaysian currency. Younas said his friend had never used his Meezan Bank card for online transactions, highlighting the alarming nature of the situation.
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Dr. Affan A. Syed, a cybersecurity expert, attributes the surge in cyberattacks to either data breaches or customers unknowingly providing personal information to scammers. Pakistan has seen a growing vulnerability to such incidents, as evidenced by similar attacks on Allied Bank customers earlier.
Dr. Affan explained that scammers often exploit trust, using tactics like phishing links or honey traps to access customer information. They might also trick users into revealing one-time passwords (OTPs) to breach security systems. Scammers can gather personal details from the dark web, including phone numbers, email addresses, or ID card numbers, to commit fraud.
While Meezan Bank denies any data breach, stating that their systems are secure and PCI compliant, the bank is urging customers to remain cautious. The bank stressed that all its cards are EMV and 3DSecure compliant, and there is no evidence of a security breach. However, the bank advised customers to:
- Avoid using cards on untrusted websites.
- Refrain from conducting banking transactions over public Wi-Fi.
- Be cautious of phishing attempts, whether through emails, messages, or calls asking for card details or OTPs.
- Report lost or stolen cards immediately.
Meezan Bank has reassured customers that the recent disputed transactions were unsecured e-commerce transactions and are covered by the chargeback mechanism of international payment schemes. The bank is actively working to reimburse affected customers.
The advisory encourages continued vigilance, urging customers to protect their personal information and follow recommended precautions.
