Money vanishes from 54 Standard Chartered Bank accounts

According to banking sector sources, fraudsters siphoned off nearly Tk 2.7 million from the accounts of 54 Standard Chartered Bank (SCB) customers in the last week of August. Following the incident, the bank suspended credit card transfers to bKash and Nagad.

In messages sent to customers, SCB stated that the “Add Money” option to mobile financial service (MFS) apps had been temporarily disabled for security reasons. The matter has also been reported to Bangladesh Bank and law enforcement agencies, with the central bank already launching an investigation.

Several victims shared their experiences on social media. One customer, Hasin Haider, wrote that Tk 50,000 was deducted from his card and transferred to a bKash account without reason. Although he received an OTP on his phone, he did not share it with anyone. The transfer took place within seconds, leading him to blame a security lapse at the bank.

Another customer, Sadia Sharmin Brishti, said she had been using her card for seven years but this was the first time she fell victim to such fraud, losing Tk 50,000 in the same way.

SCB officials said that after receiving multiple complaints, both local and global tech teams conducted security checks but found no flaws in the bank’s system. They argued that since the money was transferred through MFS platforms, responsibility lies with the concerned institutions.

Bangladesh Bank officials stated that the funds sent to bKash and Nagad accounts were withdrawn within minutes, and the accounts were then closed. This indicates that a highly experienced fraud ring was involved in the incident.