Meezan Bank has refunded customers who fell victim to unauthorized debit card transactions following reports of a possible third-party data breach.
The bank emphasized that its own systems remained secure and were not compromised. Instead, it attributed the issue to customers unknowingly sharing their sensitive information on unsecure websites or mobile apps. This breach led to unauthorized transactions, some of which were carried out in Malaysian currency and linked to platforms such as Facebook.
The incident has raised serious concerns about the increasing prevalence of cybercrimes in Pakistan. It has also highlighted the need for stronger cybersecurity measures and stricter enforcement of laws to protect consumers from such risks. In response to the growing threat, there have been calls to amend the Prevention of Electronic Crimes Act (PECA) to address these vulnerabilities more effectively.
Despite these efforts, cybersecurity experts have voiced concerns about the government’s handling of cybercrime laws. Many have criticized the creation of the National Cyber Crime and Investigation Authority (NCCIA), arguing that it has not yet provided a clear or effective framework to tackle the rise in online fraud and data breaches.
This situation underscores the importance of raising awareness about safe online practices and improving the country’s overall cybersecurity infrastructure to better protect individuals and businesses from such threats.
