Written by The Banking Post
Bangladesh Bank has launched an immediate investigation into alleged credit card fraud at Standard Chartered Bank (SCB) Bangladesh, following reports of unauthorised transactions affecting multiple customers.
Sources in the banking sector said the central bank is treating the matter as a high-priority case. The fraud reportedly involved a group siphoning around Tk27 lakh from 54 SCB credit card holders in the last week of August. As a precaution, SCB temporarily suspended credit card transfers to mobile financial services (MFS) platforms such as bKash and Nagad.
Victims reported that in each instance, Tk50,000 was transferred from their credit cards to bKash and Nagad accounts without their knowledge. The funds were quickly withdrawn by the fraudsters, who then closed the MFS accounts within minutes, suggesting a sophisticated and well-coordinated operation.
Bangladesh Bank officials confirmed that the money was cashed out almost immediately after transfer and that the accounts involved were promptly shut down.
Several customers shared their experiences on social media. Hasin Haider said Tk50,000 was debited from his card and sent to a bKash account without explanation. “I received the OTP on my phone but did not share it with anyone. The transfer took only seconds, pointing to a security issue,” he said. Another victim, Sadia Sharmin Brishti, described a similar loss, noting that despite using her card for seven years, this was her first experience with fraud.
SCB said that after receiving multiple complaints, its local and global technology teams conducted a security review but found no flaws in the bank’s systems. The bank emphasised that since the transfers were made via MFS platforms, those institutions should clarify the issue and assume responsibility where appropriate.
Bangladesh Bank has confirmed that it has begun probing the case to identify the perpetrators and safeguard affected customers.
