ISLAMABAD: In a significant step toward transparency and efficiency, the National Accountability Bureau (NAB) has formally launched a system to transfer recovered funds directly into the bank accounts of fraud victims, replacing the old, time-consuming practice of issuing physical cheques.
The new initiative was inaugurated at a ceremony presided over by NAB Chairman Lt-Gen (R) Nazir Ahmed, where the bureau carried out its first digital disbursement. Victims of the B4U financial scam were the initial beneficiaries, with Rs 878.709 million deposited into the accounts of 5,008 victims from the Islamabad/Rawalpindi region in a single day.
Previously, victims were forced to travel to NAB offices to collect pay orders, often facing long waits and procedural delays. The digital refund system is now expected to deliver much-needed relief more swiftly, ensuring that those defrauded regain access to their money without unnecessary hurdles.
The B4U case dates back to February 2021, when multiple complaints were filed with the Securities and Exchange Commission of Pakistan (SECP) regarding a Ponzi-style online investment scheme. The accused later admitted liability amounting to Rs 7.3 billion. Of this, Rs 3.7 billion has so far been recovered, with payments being processed for 17,250 victims nationwide.
According to NAB officials, the system will be applied to other scams as well, with future recoveries also credited directly into victims’ accounts. The bureau believes this reform will strengthen accountability mechanisms, boost public trust, and make the fight against financial crimes more effective.
This story has been reported by PakTribune. All rights reserved.