KARACHI: With the aim to avoid fraud, forging in payment orders (POs) and demand drafts (DDs), the central bank has issued guidelines on standardisation of layout and security features of POs and DDs.
The issuance of guidelines is aimed at safeguarding the interests of general public by reducing the risk of counterfeiting.
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The said guidelines mandate the use of “Minimum Security Features” in the paper used in printing of POs and DDs comprising of watermark, anti-forgery ink and ultraviolet fibres. In the area of layout, Magnetic Ink Character Recognition (MICR) line, name of Drawee Bank Branch (in case of DD) and maintenance of purchaser’s record by the respective bank branch have been introduced.
Moreover, to facilitate customers, the banks/MFBs have been advised to devise a centralised mechanism for the verification of genuineness of POs and DDs.
