BB freezes accounts in Tk25 Lakh NSC fraud
Business Report :
The Bangladesh Financial Intelligence Unit (BFIU) of Bangladesh Bank has frozen three bank accounts connected to a fraud involving National Savings Certificates (NSC), officials confirmed on Thursday.
Authorities also seized the computers of three bank officials involved in NSC transactions at the Motijheel office, as part of the ongoing probe into the scam.
The fraud saw a syndicate embezzle Tk25 lakh by exploiting weaknesses in the NSC system.
The first theft occurred when an individual purchased an NSC on 23 October and redeemed it prematurely four days later.
The funds were transferred to an NRBC Bank account in Dinajpur and withdrawn in cash from the Shyamoli branch in Dhaka.
The group attempted further fraudulent encashments, trying to redeem two more NSCs worth Tk30 lakh via Dutch-Bangla Bank and Tk20 lakh via NRB Bank, but Bangladesh Bank detected these efforts and blocked the transactions.
Initial investigations suggest the scam was carried out using the passwords of officials responsible for operating the NSC system.
Bangladesh Bank Assistant Spokesperson Mohammad Shahriar Siddiqui said, “Preliminary findings indicate that the fraud occurred through personnel passwords. We are identifying the accounts into which the money was transferred and the individuals involved, and a case will be filed shortly.”
A General Diary (GD) has been filed with Motijheel Police, and preparations are underway for a formal complaint.
The three officials with access to the system have been removed from duty and placed under surveillance pending further investigation.
A finance ministry probe committee has been formed, including representatives from the National Savings Directorate, Bangladesh Bank, CID, and the Internal Resources Division, to ensure a thorough investigation and prevent similar incidents in the future.
The National Savings Directorate reported that total outstanding NSCs across banks and post offices stood at Tk3,40,071 crore as of August 2025, highlighting the scale and importance of safeguarding the system.
Authorities have urged stricter internal controls to protect investors and prevent future breaches.
