The State Bank of Pakistan has announced realignment of reporting on fraud risk management. According to the SBP, regulatory reporting & monitoring function of frauds, forgeries & dacoities data of banks, DFIs and MFBs has been transferred to Off-site Supervision & Enforcement Department (OSED) from Banking Policy & Regulations Department (BPRD) of the State Bank of Pakistan.
Accordingly, all the periodical returns/statements/reports relating to fraud risk management (fraud, forgeries and dacoities, etc) by banks/DFIs/MFBs will now be submitted to OSED, with immediate effect. All other instructions on the subject shall, however, remain unchanged, the central bank maintained.
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