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CBI Addressing Fraud, Complaints
Economy, Business And Markets

CBI Addressing Fraud, Complaints

The Central Bank of Iran warned commercial banks of an increase in forgery and fraudulent activities in the banking system.  In a statement released by the CBI on Tuesday the regulator urged bank employees to watch out for, and warn customers of the possible avenues for banking fraud.  “These include the use of text messages that could entice customers to give away their account info; misuse of point of sales terminals and automated teller machines; forgery of various identity documentations and checks; identity theft of government officials; use of counterfeit money and banking checks,” the statement said.  The CBI also issued instructions on how to handle customer complaints of credit institutions, to the banking system on the same day. According to the instructions, customers are to file their complaints with their banks at first. The bank or credit institution must give a written answer to the customer within 30 working days from filing the complaint.  If not satisfied, the customers can send their complaint along with the lender’s response to the CBI’s supervisory office. The institutions then have 10 days to carry out the CBI’s verdict on the complaint or appeal to the central bank. The supervisory office’s decision will be final.

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