Islamabad: Going towards digitalization and promoting victims of fraud cases, the National Accountability Agency (NAB) has designed a system to recoup money fraudulently by online.
“Resolving the difficulties faced by various financial scams when receiving their amounts, NAB decided to transfer funds to online victims,” said an official press conference released on Wednesday.
The new payment system was launched at a ceremony hosted by Nazi Ahmed, retired NAB president. In the first phase, the recovered funds were transferred directly to victims of B4U fraud.
The NAB head himself transfers the funds directly to the victim’s bank account.
In the past, NAB returned money to a limited number of victims at one time through a salary order, a time-consuming process requiring victims to actually visit the NAB office to collect their money. Now, NAB has completely digitized the process so that funds can be transferred directly to the victim’s bank account, eliminating the traditional, time-consuming approach, the release said.
At the ceremony, NAB Islamabad/Rawalpindi district transferred Rs 870.9 billion to the accounts of 5,008 B4U fraud victims in one day
NAB began an investigation into B4U fraud in February 2021, according to complaints from the Securities and Exchange Commission of Pakistan (SECP) and victims.
The investigation has now been completed, and the defendants have since admitted liability of Rs 7.3 crore, of which the initial amount of Rs 3.7 crore has been recovered and allocated to 17,250 victims. The remaining amount will be allocated after the victim is restored.
Posted at Dawn on September 25, 2025
