Banking Fraud: SR 840,000 transferred from my bank account without my knowledge

Banks are perhaps the most powerful institutions all around the world. They control the primary flow of money within all countries and also the international transactions. Literally, without banks, you could not function in this modern world if you are an adult. We grow up thinking that banks are just a place of safe keeping our money, I think I can vouch for everyone while saying that your first bank account is probably the most memorable time of your life, and getting an ATM card along with it, makes you feel more of an adult and more independent than you actually are.[irp]

It is later, that we grow up to realize that banks are not only safe keeping our money but are also involved in using our money to invest and in turn earn money on our money while giving us a small percentage most commonly called interest. Now I don’t want to get into the whole interest is Haram issue, because let us face the reality that a huge portion of Muslim population all around the world are receiving interest from banks and have not yet opted for the Islamic banking way. When banks are given control of this much money, naturally there are some instances that result in a negative happening rather than a positive or profit. Banks sometimes also indulge in several unethical practices which mar their reputations and value.

A story has recently been reported from Riyadh where a Saudi man has filed a complaint against his local bank. He claims that the bank had been allegedly making several financial transactions, amounting up to SAR 840,000 via an account which had been registered under his name. He added that a sum of SAR 35,000 has been given to several beneficiaries per month without either his consent or knowledge. The Saudi man has also urged the concerned authorities to launch a full-scale operation into the matter.

The Saudi claims that he was only able to discover the scam when he approached the bank to open up a new bank account for his use. However, he was told that he already had 1 bank account under his name in this bank. A bank official tried his level best to resolve the issue amicably and make sure it remained as confidential as possible.

The Saudi man Badr Almalafekh spoke to the local media and issued this statement. The Head of the Information and Banking Awareness Committee has stated that complaints of this nature are no surprise or not a new occurrence. He added however that these cases were isolated and the acts were not part of any organized scam or crime.[irp]

There was another case where the bank customer accused the bank of withdrawing installments on loan twice within one month. The man, Abdulaziz Al Otaibi states that he waited for 3 months for him to get any income as the bank would withdraw the installments on a monthly basis and also the reminder account of the salary.

Source: Arab News

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