CASE

Bank involved Period of Fraud

Habib Bank Limited July 2009-Present

INTRODUCTION
➢ A Gang of 10 boys and girls gathered information from the bank officials who were there
friends about some accounts which were old and were having huge deposits. These were
the accounts of old army retired officer and I Ex-WAPDA official.
scam.
➢ This gang with all the information of the accounts that they obtained from the
bank officials made up a scam.

METHOD OF SCAM
➢ The gang used to go to the online branches of the bank
MISTAKES OF BANKS

➢ The officers of few branches rejected the transaction as it was not legal and were not
according to the standing operation procedure. But few branches were tricked by there
appearance and finally they were able to get away with 15 Million rupee transferred from
around 20 accounts to different account
➢ The information about the account holders which were affected in this fraud was given by
the bank officials.
Scam duration
➢ The gang did all this activity in less then 10 days
Investigation of Scam
➢ the bank first did the investigation at there own end but found the matter out of its hand.
Mean while the gang who committed the series of fraud went away with it.
➢ Conclusion
Banks these days are providing state of the art technology to the customers. But in view of
providing the services they have lacked in providing proper training to the employees. The day to
day rising inflation is forcing the salaried persons to gain money from un-fair means. Bank
employees and the account holders found it easy for them to make money just by offering a
small service. But the gang was smart enough to get away with it easily.

On the other hand bank has shown negligence by not obtaining the proper security checks while
performing the transaction. SOP should be followed on any cost.