The State Bank of Pakistan (SBP) has recently introduced a two-hour delay on digital transactions. This new security measure is aimed at curbing online fraud, scams, and social engineering attacks that have been rising with the growing use of digital banking in Pakistan.
By temporarily holding funds before they are permanently credited, SBP is providing a protective buffer for both customers and banks, ensuring that suspicious activity can be detected and stopped in time.
Why Has SBP Imposed the Two-Hour Delay?
-
Fraud Prevention
The delay is primarily designed to fight against online fraud and scam attempts, where unsuspecting customers are tricked into transferring money to fraudsters. -
Protective Buffer
This two-hour hold gives both banks and customers enough time to verify the legitimacy of transactions, especially large or high-value ones. Once detected early, fraudulent transfers can be blocked before funds are released.
What Happens During the Two-Hour Hold?
-
“In-Progress” Status
When a digital transaction is made, the funds remain in an in-progress status for two hours. They cannot be withdrawn, used for online shopping, or spent on mobile top-ups during this time. -
Customer Notifications
Customers are informed about the delay via SMS, email, or in-app notifications, keeping them updated about their transaction status. -
Trusted Customers
Depending on the bank’s policy, trusted customers may be exempted from this restriction, allowing them to perform immediate withdrawals or purchases.
Key Benefits of the Two-Hour Delay
-
Enhanced Security: Protects customers from falling victim to fraud and scams.
-
Customer Trust: Builds confidence in Pakistan’s digital banking ecosystem.
-
Proactive Protection: Gives banks time to detect malicious or suspicious transactions.
Final Thoughts
The two-hour transaction delay by SBP is a crucial step toward strengthening digital financial security in Pakistan. While some may find the delay inconvenient, it offers an extra layer of protection that could prevent significant financial losses.
As digital banking continues to expand, such policies will play a vital role in building a safer, more secure, and fraud-resistant financial system.
✅ If you are a digital banking user in Pakistan, stay alert, verify your transactions, and take advantage of this protective measure introduced by SBP.
SBP digital transactions, State Bank of Pakistan fraud prevention, two-hour transaction delay SBP, Pakistan online banking security, digital banking fraud prevention
No comments:
Post a Comment