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NBP launches inquiry into Rs6m fraud

byCT Report
13/10/2017
in Business
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MULTAN: The National Bank of Pakistan (NBP) Multan officials have launched an inquiry into a fraud allegedly committed by a godown keeper, depriving account holders of Rs 6 million through parallel banking.

The godown keeper, Qamar Zaman of NBP Timber Market branch, started improving relations with bank clients mostly traders and developed a trust-based relationship. He used to deposit cash provided by clients into the bank and also withdraw amounts from their accounts through cheque and hand over money to them. He used to provide official deposit slips of bank to bank clients after depositing their money.

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However, after passage of some time, he started giving unofficial receipts to clients. The fraud unfolded when he did not turn up to hand over cash to clients and clients contacted bank officials and narrated the story.

When contacted, NBP Multan Regional Head Farrukh Ghauri told APP that an inquiry had been launched into the fraud and the case would be referred to the FIA for investigation and trial.

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