Meezan Bank has firmly denied allegations of a data breach following reports of unauthorized transactions on customers’ debit and credit cards that surfaced on social media. In an official advisory issued on December 19, 2024, the bank reassured its customers that their data remains secure, emphasizing, “There has been no security breach whatsoever.”
The advisory addressed concerns about unauthorized charges, clarifying that the disputed transactions resulted from unsecured e-commerce activities rather than a compromise of the bank’s security systems. Meezan Bank confirmed that affected customers who reported these incidents have been reimbursed under the chargeback mechanism offered by international payment schemes.
The bank reiterated its commitment to stringent security standards, highlighting its PCI certification and the EMV and 3D Secure compliance of its cards. These measures ensure high levels of protection for customer transactions. To further safeguard users, Meezan Bank emphasized the importance of adhering to safe online practices. Customers were advised to avoid using their cards on untrusted websites, refrain from conducting transactions over public Wi-Fi, and remain vigilant against phishing attempts seeking card details or one-time passwords (OTPs).
The issue gained significant traction online after social media users reported alarming incidents of unauthorized transactions. One customer, Malik Zaka from Islamabad, shared that Rs. 2.1 million was withdrawn from his account via transactions conducted in Malaysian currency, later converted into Pakistani rupees. Another customer from Lahore reported transactions totaling Rs. 1.4 million. Both individuals confirmed that their funds were reimbursed promptly, reflecting the bank’s swift response to customer complaints.
Meezan Bank emphasized its proactive measures to safeguard customer interests and prevent similar incidents in the future. The advisory encouraged customers to continue using their cards for cashless transactions on trusted platforms, reassuring them of the bank’s robust security protocols.
This incident underscores the growing need for vigilance in digital banking and e-commerce security, especially as online transactions gain widespread popularity in Pakistan. The rapid adoption of cashless payment systems and e-commerce platforms demands a heightened awareness of cybersecurity risks among both financial institutions and consumers.
Meezan Bank’s transparent handling of the situation reflects its commitment to customer trust and security. By addressing the issue swiftly and offering clear guidance on safe transaction practices, the bank aims to maintain its reputation as one of Pakistan’s leading Islamic banking institutions.
As digital banking continues to transform the financial landscape, incidents like these highlight the importance of collaboration between banks and customers in ensuring a secure and trustworthy environment for cashless transactions. Meezan Bank’s response serves as a reminder of the shared responsibility in navigating the challenges of an increasingly digital financial ecosystem.