Ex-bank official arrested over embezzling funds using client's credit card
The accused allegedly misappropriated Tk5,56,995, including accrued benefits.
The Criminal Investigation Department (CID) of police has arrested a former bank official on charges of secretly using a client's credit card and embezzling money.
The accused, Sarwar Hossain, 40, was arrested yesterday (8 June) afternoon from the Commercial Cove building area on Road 32 in Gulshan by a team from CID's Dhaka Metro (West) unit.
The arrest was confirmed today (9 June) by CID Special Superintendent of Police (Media) Jasim Uddin Khan.
Keep updated, follow The Business Standard's Google news channel
According to the CID official, Sarwar was working as a senior relationship officer in card sales and retail banking at a reputed bank in 2017 when a customer applied for a credit card.
However, as the client later realised they did not need the card, they returned it to the bank without activating it. Instead of deposing it to the bank treasury, Sarwar kept the credit card for himself.
Using the card, he allegedly carried out fraudulent financial transactions over several years.
The fraud came to light when the customer recently discovered through a Credit Information Bureau (CIB) report that loans had been taken against a credit card issued in his name in 2017.
After the customer filed a written complaint with Bangladesh Bank, the matter came to the attention of the bank. An internal investigation later uncovered the fraud, prompting the bank to file a case with Tejgaon Industrial Area Police Station.
CID investigators found that between late 2017 and mid-2022, loans amounting to Tk17.7 lakh were taken using the credit card without the customer's knowledge.
Although Tk14.13 lakh was repaid against the transactions, the accused allegedly misappropriated Tk5,56,995, including accrued benefits.
Jasim Uddin Khan said Sarwar abused the trust placed in him by the customer and embezzled the money through fraudulent means while employed at the bank.
He allegedly continued using the credit card even after leaving the bank in 2019. During preliminary interrogation, he admitted to his involvement in the offence, the CID official said.
