Meezan Bank denies data breach amid reports of irregular transactions

Meezan bank assures it has already responded to these complaints and refunded affected users
An undated image of Meezan banks branch. — Meezan Bank
An undated image of Meezan bank's branch. — Meezan Bank

Several users online have recently reported irregular transactions on their Meezan Bank debit cards, suggesting a potential security vulnerability. However, Meezan Bank has denied these claims and confirmed that no security compromise has occurred on their end. 

Following numerous online reports, the bank clarified that there is no data breach on their end. They further explained the likely reason behind these irregular transactions, stating that customers may have shared their confidential data on suspicious websites and apps that bypass OTP verification for payments. 

Meezan Bank emphasised that these issues are unrelated to its internal security systems.

However, customers have reported losing thousands of rupees due to the unidentified issue. A few users further mentioned that the transactions were processed in Malaysian currency, and later converted to PKR. In addition, maximum transactions on these customer’s cards occurred on platforms like Facebook and other online services.

Meezan Bank informed ProPakistani that it has received less than ten reports about the irregular transitions over the last week. The bank assured that it has already responded to these complaints and refunded the affected users. Meezan Bank further reaffirmed its standard operating procedure (SOP), which ensures that any customer losses due to data misuse from suspicious websites that don’t need an OTP verification.