Embezzlement Of Tk 30cr
Prime Bank asked to refund 2,500 jobseekers by May 30
Bangladesh Bank has asked Prime Bank to refund the undertaking money its mobile banking service solution provider SMG Infocom Ltd collected from 2,500 jobseekers by May 30 as the bank was responsible for the fraudulent act, said BB officials. According to a BB inspection report, SMG Infocom, appointed by Prime Bank to operate its mobile banking Easy Cash, received Tk 25 crore-Tk 30 crore as undertaking money from the successful candidates for the job, using tricks.
On May 14, the BB issued a letter to the managing director and chief executive officer of Prime Bank saying that the bank was aware of the act when SMG infocom was receiving the undertaking money from the jobseekers by using the Prime Bank’s logo.
The BB earlier conducted an inspection of the mobile financial services of Prime Bank where the central bank had unearthed that SMG Infocom recruited around 2,500 people to operate mobile banking services of Prime Bank.
The solution provider took huge amount of money from them as undertaking, using tricks, the BB inspection report said.
The report said that SMG Infocom had closed its operation immediately after the recruitment leaving 2,500 jobless but it had not refunded the undertaking money to the appointed.
A BB official told New Age on Thursday that SMG Infocom had received between Tk 50,000 and Tk 2,50,000 from each person as undertaking money.
The solution provider had assured the jobseekers that it would refund the undertaking money to them after recruitment, the official said.
The BB inspection report said SMG Infocom had not returned the undertaking money to the appointed, violating the commitment and it also closed its operation.
The BB letter said that the stance of Prime Bank in this case was not correct as it had said that SMG Infocom did not use the Prime Bank’s logo.
The BB letter said, ‘Prime Bank earlier issued two separate letters to the BB in which the bank admitted that it was informed about the SMG Infocom’s recruitment from across the country by receiving undertaking money from jobseekers.’
Detective Branch of Police also informed Prime Bank about the SMG Infocom’s fraudulent act, the letter said.
Prime Bank could prevent the fraudulent act if it had taken immediate measures by taking help from the central bank and law enforcement agencies, it said.
‘But, Prime Bank failed to take measure in this regard. So, the bank could not deny the responsibility of SMG Infocom’s improper action,’ the letter said.
On April 7 this year, the BB issued a show-cause notice to Prime Bank to explain in five working days why the central bank would not cancel no-objection certificate it provided the private commercial bank to run mobile financial services for misappropriating a huge amount of money from 2,500 job seekers.
In reply to the show-cause notice, Prime Bank denied its involvement with the fraudulent, the BB official said.
The BB, however, has not accepted the Prime Bank’s reply and its MFS licence is under cancellation threat, he said.
Prime Bank managing director Md Ehsan Khasru could not be reached on Thursday for his comment as he was in the United States.
-With New Age input
