Special Correspondent:
A case has been filed against Appel Mahmud, current Member, life of the Insurance Development and Regulatory Authority (IDRA) and former Chief Executive Officer of Fareast Islami Life Insurance Company, on charges of fraud, forgery, and unauthorized data transfer.
The case was lodged by the company’s legal officer, Md. Jasim Uddin, on 4 August at Shahbagh Police Station under Cyber Security Ordinance 2025, Sections 19, 21, and 22. The case has been registered as Case No. 9.
According to the First Information Report (FIR), the accused, in collusion with others, allegedly accessed the company’s central digital database and unlawfully transferred confidential information of 55,086 employees to a third-party entity named Subline Limited.
The leaked data includes national ID numbers, bank account details, mobile numbers, salary information, and employee identification numbers. The FIR also claims that this breach has put the personal safety and assets of the employees at risk.
Other accused in the case includes Lokman Faruk, In-Charge of the company’s IT department, and Osman Gani, Assistant Vice President of Fareast Islami Life Insurance.
The data breach allegedly took place on 27 May 2024. Notably, Appel Mahmud was appointed as IDRA’s Life Member on 2 December 2024, months after the incident occurred.
In response to the allegations, Appel Mahmud said that the data was shared with Subline Limited as part of a board-approved initiative aimed at supporting the government’s digitalization efforts and expanding the company’s insurance business.
“There was no intention of personal financial gain,” he said.
