Suspect held for Rs47 million bank scam

The Federal Investigation Agency (FIA) Commercial Banking Circle has arrested a suspect allegedly involved in a bank fraud amounting to Rs4.7 million.

According to an FIA spokesperson, the accused, identified as Zohaib Nawaz, was apprehended from Lahore during a raid conducted on the basis of a complaint lodged by a private bank.

Preliminary investigation revealed that the suspect had fraudulently altered a customer's pay order and transferred the amount to his personal account, which he later withdrew and misappropriated.

The spokesperson said that further investigation is underway after the arrest of the accused.