Incidences
have been brought to the notice of State Bank of Pakistan
that some branch managers have opened accounts without proper
identification of the new account holder. Subsequently, fake
cheques were deposited in these accounts, which were processed
and cleared through the clearing system in the normal course.
In order to avoid the use of banking channel by the fraudsters,
and to make the payment system more secure, the banks are
advised to (i) take due care in opening of accounts (ii) make
appropriate arrangements and exercise extra vigilance at the
time of clearing the financial instruments (iii) take extra
caution on payment of cash against cheques over the counters.
The banks are further advised to cascade this alert down to
all relevant members of their staff to avoid occurrence of
such incidences in the future.
Please
acknowledge receipt.
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