Bankers Diary

FIA Arrested Bank Manager For Stealing Money From BISP Recipients

Benazir Income Support Programme, FIA Arrested Bank Manager, Bank Alfalah Arrested, Waseem Farooq, ATM machines, Assistant Director, Asif Iqbal, Cyber-Crime Unit of Federal Investigation Agency

Benazir Income Support Programme (BISP) is a welfare programme, which was introduced in the Ex-President Zardari Government, is facing corruption in every new Government. Often we hear corruption stories, which involves top management to bottom line employees. Recently, an another incident came to surface where Cyber-Crime Unit of Federal Investigation Agency – FIA arrested Bank Manager of Bank Alfalah who was allegedly involved in drawing money out BISP Cards.

According to the details, the Senior Manager of Bank Alfalah, Mr. Waseem Farooq with his female companion was arrested by Assistant Director Asif Iqbal of Cyber Crime Unit from Lahore’s Defence Area. BISP has made a contract with Bank Alfalah wherein Bank Alfalah provides ATM cards to female beneficiaries, which is activated by making a call to the Bank Alfalah helpline.
 
Benazir Income Support Programme, FIA Arrested Bank Manager, Bank Alfalah Arrested, Waseem Farooq, ATM machines, Assistant Director, Asif Iqbal, Cyber-Crime Unit of Federal Investigation Agency


Mr. Waseem Farooq along with his accomplice was involved in stealing BISP record from the Bank’s record to use fake ATM cards, activate them, and then draw money from different ATM machines. He was caught red-handed by the FIA unit from Gujranwala. The Assistant Director, Asif Iqbal told that over 100 cards have been recovered from Mr. Waseem Farooq.

A Senior BISP officer told us that FIA arrested Bank Manager, at the time of joining Bank of Mr. Waseem Farooq, he was residing in a backward area of Garhi Shahu Lahore. Later on, when BISP gave contract to Bank Alfalah, Mr. Waseem Farooq was made the Head of Department. He learned the procedures over a period of time and then started committing frauds by making / using fake ATM cards to withdraw money from different ATM machines. Interestingly, the journey from a motorbike to Honda Civic was a very short one.

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