Fraud Crisis: Over Rs 3 Million Vanishes from MCB Client Accounts

The recent case of Raj Seeperson, an MCB client, has sent shockwaves through the community, with reports of suspicious transactions leading to substantial financial losses.

Mr. Seeperson and his wife were left bewildered and distraught after noticing that a significant amount of funds had mysteriously vanished from their accounts.

According to Mr. Seeperson, the ordeal began when they received an insurance payment. Shortly after, they discovered unauthorised withdrawals in USD, totalling a staggering sum of around Rs 3 million. Concerned and perplexed, they swiftly lodged a complaint with MCB, contesting the legitimacy of the transactions.

MCB rejects reimbursement claim

However, the bank’s response left them even more dismayed. MCB reportedly denied their request for reimbursement, citing SMS acknowledgments and “One Time Passwords” as sufficient proof of authorisation for the withdrawals.

Faced with significant financial strain due to the loss, the couple sought an interest-free loan to cope with the situation, which the bank also allegedly declined.

Feeling left with no choice, Mr. Seeperson and his wife turned to law enforcement, filing a formal fraud complaint with the police, which has initiated an investigation into the matter. 

Dozens of other MCB clients have come forward in recent months, reporting similar cases of unauthorised withdrawals and fraudulent activity, raising questions about security measures and the vulnerability of clients.

Source: l’Express