ISLAMABAD: President Dr Arif Alvi has asked Banking Mohtasib to protect banking consumers from scams and financial losses through effective preventive measures.

He was talking to the Banking Mohtasib of Pakistan Muhammad Kamran Shehzad, who called on him here Monday.

Expressing concern over the increasing trend of fraudulent activities and cyber-crimes in the banking sector, he underlined the need for taking preventive measures by upgrading information technology systems so as to save people from such scams.

He called for creating awareness among the people about scams and fraudsters in the banking sector through seminars and an effective media campaign.

The Banking Mohtasib apprised the President that mostly illiterate and elderly people were being targeted by the fraudsters in Pakistan. He briefed the President that over 25,000 complaints were received during the year 2020, out of which 84% of the cases were disposed of. He also presented the Annual Performance Report-2020 to the President.