bdnews24.com :
Banks in Bangladesh have been losing documents submitted by clients despite assurances about security of transactions and savings.
The list of loss ranges from cheques, demand drafts, documents on Fixed Deposit Receipt (FDR), SDR, Mudaraba Term Deposit Receipt (MTDR), pay orders and Letter of Credit documents for export and import.
Various branches of at least 14 banks in Dhaka and outside have reported losing such documents in the past two months.
There has been an attempt to cash a stolen cheque while others sent from abroad have ‘disappeared’ even after reaching the post office.
As these irregularities surge, distressed clients believe a group of fraudsters are out to cash on the negligence of sloppy bank officials.
According to the Bangladesh Bank, a bank must take responsibility if a document is stolen from its custody.
At least six banks have lost documents in October, according to a bdnews24.com investigation.
In each case, the erring banks have written to all other banks warning them about the possibility of these ‘lost documents’ being used for encashment.
Social Islami Bank Ltd (SIBL) have lost two MTDRs, Dhaka Bank’s general division seven cheque books of as many clients, one MTDR has gone missing from Union Bank, two pay orders from South Bangla Agricultural Bank, two export loan documents from NCC Bank and six demand drafts, seven pay orders and documents for 25 FDRs were lost from the Rupali Bank.
The state of abysmal security came into focus after 55 cheques were reported stolen from a drawer of the clearing desk at Sonali Bank’s branch in Dhaka’s Lalmatia on Oct 26.
An unidentified man later tried to cash one of these lost cheques at Standard Chartered Bank but fled when officials were called the one who issued it.
A senior official from the state-owned bank’s Lalmatia branch was removed for negligence and a four-member committee formed to probe the incident.
Banks in Bangladesh have been losing documents submitted by clients despite assurances about security of transactions and savings.
The list of loss ranges from cheques, demand drafts, documents on Fixed Deposit Receipt (FDR), SDR, Mudaraba Term Deposit Receipt (MTDR), pay orders and Letter of Credit documents for export and import.
Various branches of at least 14 banks in Dhaka and outside have reported losing such documents in the past two months.
There has been an attempt to cash a stolen cheque while others sent from abroad have ‘disappeared’ even after reaching the post office.
As these irregularities surge, distressed clients believe a group of fraudsters are out to cash on the negligence of sloppy bank officials.
According to the Bangladesh Bank, a bank must take responsibility if a document is stolen from its custody.
At least six banks have lost documents in October, according to a bdnews24.com investigation.
In each case, the erring banks have written to all other banks warning them about the possibility of these ‘lost documents’ being used for encashment.
Social Islami Bank Ltd (SIBL) have lost two MTDRs, Dhaka Bank’s general division seven cheque books of as many clients, one MTDR has gone missing from Union Bank, two pay orders from South Bangla Agricultural Bank, two export loan documents from NCC Bank and six demand drafts, seven pay orders and documents for 25 FDRs were lost from the Rupali Bank.
The state of abysmal security came into focus after 55 cheques were reported stolen from a drawer of the clearing desk at Sonali Bank’s branch in Dhaka’s Lalmatia on Oct 26.
An unidentified man later tried to cash one of these lost cheques at Standard Chartered Bank but fled when officials were called the one who issued it.
A senior official from the state-owned bank’s Lalmatia branch was removed for negligence and a four-member committee formed to probe the incident.
