Hackers Steal Money from Faysal Bank Customers Once Again!

Dozens of Faysal Bank’s customers were shocked when they received SMS and Email alerts about the withdrawal of significant amount of money from their accounts without their use or knowledge.

This is the second time the customers of Faysal Bank Limited have been victims of skimming attacks. Similar cases were reported back in December 2015 by customers, who were clueless when their money was stolen and transferred from their accounts to some unknown place.

The bank’s management tried its level best to prevent such attacks but it failed when hackers from different countries hacked customers’ details and transferred their money from their accounts to their own kitty, a senior banker at Faysal Bank Limited said.

Last time, the bank failed to recover the money. Instead, it had to compensate customers within forty days from its own profits, according to a senior banker at Faysal Bank Limited.

On the condition of anonymity, a source at Faysal Bank said:

Skimming attacks cost hundreds of thousands of rupees to the bank in my region but this amount could be millions considering the number of victims across the country.

Unfortunately, the recovery process for the money once a customer realizes that they’ve been hacked is laborious. Bankers doubt the victims in the initial stages and this adds insult to injury.

A senior banker said:

We do compensate every customer who becomes victim of such incident. We as procedure investigate the matter and refund the money although the terms and conditions signed by customer with bank do not guarantee repayment of such loss of money.

Faysal Bank Limited is a mid-tier bank with increasing number of customers using plastic money (credit and debit cards). However, skimming attack in such frequency are highly concerning for customers who will be reluctant to use advanced services offered by banks such as mobile/internet banking and credit/debit card service.

The bank should invest on security of customer data otherwise they will lose customer confidence and their accounts as well.

The central bank should also take notice of the frequent hacks on Pakistani banks through proper investigations and research of the previous attacks. It should also instruct banks to compensate victim customers timely rather than exploiting them unduly at the mercy of bankers.

  • interesting part is
    “…although the terms and conditions signed by customer with bank do not guarantee repayment of such loss of money.” Lol

    • Exactly lol. People don’t have a guarantee of safety at home as well then whats the difference

      • There’s nothing wrong in this statement actually.

        Banks usually don’t take any guarantee for your money and they state this in their terms and conditions in clear words.

        • There is a difference in money lost due to customer’s own mistake (which could be stolen ATM card or net banking password) and loss due to vulnerability in bank’s own security procedure.

          This is not fault of the customer so bank has to compensate from their pocket because this was result of their own mess.

      • We Should reduce banking as already they are taking much taxes for any kind of transactions. and after pay many of taxes we are not safe,, lol.

      • Robbers can loot you at home,banks can be looted and if all else fails govt will loot you

    • You’re underestimating the muggers of today, and the lengths they would go in order to get any money they can get their hands on. A friend of mine was felt up good by snatchers who thought he had cash in his underwear.

  • Abdul Rehman bro can u tell in which city the incident happened and it was hacking or skimming ?
    Thanks in Advance

  • I came to Saudi Arabia for Umrah on 2 June and I have an account in Allied Bank and I have been a victim of this as well. Someone used up my money from 4-6 June :/

  • Crappy banks, crappy services and on top of that frequent hacking. Then people wish Paypal should come here.

  • How they initiate the hack. I have NIB online account and just to login into that account I must know username password and the variable code they sent to mobile with each and every transaction and login. How did they do that without access to mobile number of each and every customer?

    • So what? Nawaz Jaib Katra and Munshi Dar doesn’t have access to mobile numbers too. But they are easily looting every Pakistani in daylight. So what’s the big deal?

    • They hack the servers which verify your information and then they get all the details of every customer once they break the firewall of that server

  • Remember that most of these skimming attacks are initiated by unsuspecting customers themselves. They receive a dummy email asking for their sensitive details and they gladly provide them. In other cases, they receive a clone login page of the bank and make the folly of logging in from there without verifying the green HTTPS symbol in the address bar. And banks bear the brunt of such follies.

      • It was a presumption on my part. Primarily based on this line “Dozens of Faysal Bank’s customers were shocked when they received SMS and Email alerts…”. The emphasis being on dozens. However, it can easily be a hack of the server that verifies login credentials.

    • suppose 1000 accounts hack huwy, to kia sab k sab ny apni account details di hy???
      aqal kia ghaas charny gayi hy jo kuch bhi bol diya???

      • Aik bnde ki information milte he phishing attack start nhi ho jata mere nadaan bhai. Ye system kai mahino tk chalta hai aur phr aik he din sb accounts ka sifaya kia jata hai.

  • Last time when i showed someone with my common wealth bank australi’s net bank login keychain he was shocked that how this works and how is it possible that battery doesn’t drains ever. Our banks should learn banking security and online banking from foreign banks. Awarding companies of their own interest with security and online banking contracts will definitely cost them this.

    • Almost the same as Barcalys PINSentry (UK) It lasts for over an year (mine is 2 years and still going) and I can use it anywhere in the world, including Pakistan.

  • So here’s my story…. my mothers account got two messages saying that there is an “IBFT” transaction of 50K from her account. Subsequently, she got messages saying that a new beneficiary has been added to her account. Because we had guests over she didn’t bother to look at her phone.

    Long story short, there are two fraudulent withdrawals from her account, each of 50K, and when we visited our Faysal Bank branch, the RM said that this is a common thing with them.


    So basically they agree that any aira gaira natho khaira can come along and take your money.

    So I closed the account with Faysal bank and hid the cash under the mattress like “El Chapo”. Lol

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