The SECP and SBP have launched a public awareness campaign through the print and electronic media, advising investors not to fall prey to the lucrative schemes of dubious, unscrupulous, unauthorized and illegal deposit takers.
SBP Fraud Warning
The general public is warned that the name of the State Bank and its official logo and the name of the Banking Laws Review Commission are being misused for fraudulent purposes. The most common method involves victims being notified of monies to be paid to them, by way of an inheritance, by the State Bank’s Overseas Branch. To gain access to these funds, victims are asked to provide personal information e.g bank account number or mobile telephone number etc.
The public is hereby put on notice that the State Bank is the Central Bank of Pakistan and has no office or branch in any other country of the world. Further, the central bank does not handle such payments. Any message purported to have sent by State Bank’s Overseas branch or office or the Banking Law Review Commission, is fraudulent. Any Scheme using the name or logo of State Bank of Pakistan outside Pakistan whether in relation to payment of or release of funds or otherwise, should be reported to law enforcement authorities in the recipient’s home jurisdiction. State Bank will take stern action against any person/party misusing its name.