Meezan Bank Users Affected by Third-Party Data Breach Are Your Debit Card Details Safe?

Karachi – Meezan Bank Customers Fall Victim to Data Breach, Unauthorized Debit Card Transactions

KARACHI – Several customers of Meezan Bank found themselves in an unfortunate situation after falling victim to a data breach that led to unauthorized transactions on their debit cards.

The issue began when users of the bank began sharing reports of fraud in Voice of Customer groups, posting screenshots of unauthorized transactions made through their accounts. Victims reported that these fraudulent purchases were made in Malaysian currency before being converted to local currency. The transactions were processed via social media platforms using their debit cards.

As the reports gained significant attention on social media, Meezan Bank took prompt action, reimbursing at least ten affected customers. The bank clarified that its systems remained secure, attributing the fraudulent transactions to customers inadvertently sharing sensitive information on third-party apps that bypassed OTP (One-Time Password) verification processes.

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This breach has raised serious concerns over the increasing prevalence of cybercrime in Pakistan. In response, the government is considering amendments to the Prevention of Electronic Crimes Act (PECA) 2016 to tackle such incidents more effectively.

Tips to Avoid Third-Party App Breaches on Bank Cards:

1. Trusted Apps Only:
   Download apps only from official sources like Google Play or the Apple App Store, and verify app reviews before use.
2. Always Use Two-Step Authentication:
   Enable two-step authentication for apps that support it to add an extra layer of security.
3. Keep an Eye on Transactions:
   Regularly check your bank account for unauthorized transactions, and set up transaction alerts for added vigilance.
4. Restrict App Permissions:
   Limit app permissions, especially for access to unnecessary features such as contacts or the camera.
5. Use Official Bank Apps:
   For transactions and account management, always prefer using your bank’s official app over third-party platforms.
6. Avoid Public Wi-Fi:
   Use a VPN or avoid public Wi-Fi networks when conducting financial transactions, to protect your data from potential hackers.

The incident underscores the importance of staying vigilant online and using secure methods for financial transactions to protect personal and banking information.