Business Desk 
Nov 24, 2024
The State Bank of Pakistan (SBP) has sealed the Hafizabad branch of the National Bank of Pakistan (NBP) after discovering counterfeit currency notes worth Rs2 million.
This alarming incident has raised serious concerns about the security and oversight within the banking system.
The fake money was deposited through a private bank into the NBP branch, leading to the discovery of the counterfeit notes. In response to this significant lapse, the SBP has imposed a heavy fine of Rs200 million on NBP.
This move is a reminder of the importance of maintaining strict vigilance against such fraudulent activities in the banking sector.
The case is now under investigation by the SBP, with efforts to trace the source of the fake currency. Given the involvement of multiple entities, the investigation is expected to be complex and time-consuming.
