SBP warns against sharing banking details over the phone as fraudsters use Biometric verification as pretext to con people

July 29, 2019 (MLN): The State Bank of Pakistan (SBP) has warned the general public not to divulge personal banking details over the phone as SBP/Banks/Micro Finance Banks do not conduct biometric verification of Banks’ existing customers through telephone calls.

In a press release, the SBP said “It has come to our knowledge that fraudsters are attempting to defraud the banking customers by seeking bank account details on the pretext of biometric verification. In many cases, this is being done through fake calls by masking the official helpline or registered numbers of banks. The receivers apparently believe that the call is genuine or from the bank and share their personal information including bank Account Number, ID, Password, CNIC Number, etc. resulting in loss of funds even during the calls. The fraudsters generally impersonate as officials of State Bank of Pakistan, Army Officer or representative of Superior Courts of law, etc. on pretext of biometric verification of accounts. In this context, public is advised to immediately contact their banks on their registered numbers/helpline themselves instead of responding the incoming calls and sharing their credentials.”

The SBP requested that if the public receives any such call, they should share details of these cases/incidents with law enforcement agencies or SBP helpline at 021-111-727-273 or email.