Meezan Bank denied an alleged data breach on Thursday after customers reported unauthorised transactions on their debit and credit cards. Meezan quickly took note of the situation after the allegations began circulating on social media.
Official Statement
Meezan has compensated at least ten victims for what is now been cleared as a third-party breach. In an official statement, the bank clarified that its system remains uncompromised, attributing the issue to customers sharing data on websites or apps that bypass OTP verification.
Meezan also advised its customers to take precautions when using cards online. This includes avoiding transactions on untrusted websites that may compromise card information. Additionally, the bank also urged customers to refrain from using public Wi-Fi networks for banking transactions and to remain vigilant against phishing attempts, such as emails, messages, or calls requesting card details.
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The Rising Issue of Cybercrime
The incident highlights a much bigger issue of rising cybercrime. Although the government proposed amendments to the Prevention of Electronics Crimes Act (PECA)2026 to address the gap in governing online fraud and data breaches, incidents like these continue to happen.
Meezan Bank has recently won the Best Bank 2024 title and assures its customers of its commitment to secure banking. The event highlights bigger issues which need to be addressed on a greater level.
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