Standard Chartered Bank Bangladesh has issued a statement regarding the allegations of fraudulent transactions. The bank outlined its position in a statement today, Saturday.

The statement said, "Since the beginning of this September, we have received some complaints of fraudulent transactions from credit cards to mobile financial services to multiple wallets. Where some customers have made fraudulent transactions from cards using one-time passwords (OTPs) without their permission. Based on such complaints, our bank has taken several immediate steps to ensure the protection of our customers."

Standard Chartered Bangladesh Chief Executive Officer Nasser Ejaz Bijoy said in this regard, "A Bangladesh Bank monitoring team is visiting the offices of each of the institutions concerned to review the processes and systems in this regard. We have already reported the incident to the law enforcement agencies. To avoid inconvenience to our customers, we have already refunded the relevant amount to the affected cards. After the investigation is completed and based on the results of the investigation, the final settlement of the incident will be made."

He further said, "A thorough investigation of our banking platform and transaction processes has shown that there is no deficiency in Standard Chartered's security measures. Our Internet Banking Portal and Standard Chartered Mobile App continue to serve customers as the most secure, secure and encrypted payment channels. Customers can easily transfer money to Mobile Financial Services (MFS) through the app or online banking. However, we have temporarily suspended the 'Add Money' feature on the MFS portal or app, so that fraudsters cannot harm our customers from outside."

Several of our customers have already expressed their satisfaction with the steps we have taken. One of our affected cardholders, Hasin Haider, shared her positive feedback on social media. Our representatives have spoken to each affected customer, the bank's CEO said.

He further said, "Recently, new reports have been appearing in various media outlets regarding this old incident. We would like to assure customers, well-wishers and all concerned that these are related to previous incidents and there is no reason to be concerned again. In addition, the bank's concerned officials are working together with regulatory agencies and law enforcement agencies to quickly resolve the issue and identify the root cause."

Nasser Ejaz Bijoy said, "As a responsible and trusted financial institution, we have been by the side of our customers for the past 120 years, partnering in the progress of the people of the country. Their financial security and safety are our top priority. We are grateful for the unwavering trust of our esteemed customers in Standard Chartered."