Over Rs1 billion fraud detected at National Bank

ISLAMABAD: An astonishing revelation has emerged involving fraud and embezzlement amounting to Rs1.12 billion in Pakistan’s largest state-owned bank.

According to a special audit report, the fraud was perpetrated by seven officers at the Phuleli branch of National Bank in Hyderabad city. The suspects allegedly engaged in creating bogus chequebooks and fake bank accounts, resulting in fraud exceeding Rs1 billion.

Those involved in the fraud include a Vice President, Regional Manager, as well as officers in Grade 1 and Grade 2. Officers from branches in Faisalabad, Karachi, and Hyderabad have been implicated in defrauding millions of rupees. Recommendations have been made to take action against the responsible officers.

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Action has been taken against the culpable officers, confirmed by the National Bank, which has authenticated the fraud. The audit team has requested copies of the records for verification.