ISLAMABAD: President Dr Arif Alvi Monday asked the Banking Mohtasib to take effective preventive measures for protection of banking consumers from scams and financial losses.

The president, in a meeting with Banking Mohtasib Muhammad Kamran Shehzad here at the Aiwan-e-Sadr, called for utilizing the latest information technology tools for better service delivery and complaints' resolution.

He stressed the need to create awareness among the people about scams and fraudsters in the banking sector through seminars and an effective media campaign.

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

The Banking Mohtasib apprised the president that mostly illiterate and elderly people were being targeted by the fraudsters in the country. Over 25,000 complaints were received during the year 2020, 84% of them were disposed of. Around 65% complaints were received from Punjab, he added.

The Banking Mohtasib also presented the Annual Performance Report-2020 to the president, who appreciated the Mohtasib’s efforts in addressing the complaints and protecting the rights of banking consumers.