The customers of Bank Al-Habib have allegedly lost billions of rupees in a fraud carried out by bank officials in the city of Faisalabad. The scam carried out Bank Al-Habib officials has gone viral on social media, causing widespread criticism for the banking institution and demands to more effective regulations to avoid such losses in the future.
According to the reports, the Federal Investigation Agency (FIA) has launched an investigation into Bank Al-Habib’s fraud after receiving several complaints from customers at different branches within the city.
The prime suspect has been identified as Raja Ammar Kiyani, the area manager in Faisalabad, who has reportedly fled to the United States of America (USA) so he can avoid any legal action being taken against him.
Meanwhile, the reports state that other staff involved in the fraud has also disappeared since the FIA has started their investigation. According to reports, the bank officials behind Bank Al-Habib’s fraud have looted around Rs. 5 billion from customers.
As per reports, there are more than 500 affected customers across 8 to 10 branches in Faisalabad.
The reports state that bank personnel were issuing a fake letter to people who came to deposit money into their savings accounts. The bank’s higher-ups have taken notice of the incident and reached Faisalabad to look into the matter.
However, as per FIA, the actual amount looted in Bank Al-Habib’s fraud may be higher than the reported number as more complaints are being received by customers. So far, over 500 customers have been affected and the bank’s staff involved in this fraud has also disappeared.