World Bank loan fraud: CPC, CID nab 1 active member of cross-border syndicate

The Cyber Police Centre (CPC) of the Criminal Investigation Department has arrested an active member of an international syndicate accused of defrauding the public through fake websites and the misuse of the World Bank's logo to offer fictitious low-interest loans.

A case was filed at Shahjahanpur Police Station after a victim was deceived into paying Tk247,448 through bank accounts and Mobile Financial Services (MFS), including bKash and Nagad. 

Acting on intelligence and technical analysis, investigators identified the suspect as Md Sohag Hossain, 35, of Lakshmipur.

In the early hours of 28 November, CPC officers arrested Hossain during a raid at a residential building in Rajabia Hat, under Raipur Police Station. Five mobile phones, several MFS agent accounts, and data linked to nine mobile numbers and accounts were seized.

How the ring operates

According to the CID, the syndicate contacted victims via WhatsApp, impersonating representatives of the World Bank's loan programme and using fabricated official titles. Victims were promised a Tk10 lakh loan at a 2% interest rate and directed to apply through a fraudulent website: bdworldloanprojectcw.com.

They were subsequently pressured into transferring money multiple times for supposed "charges, VAT, insurance and processing fees".

The syndicate is believed to have used the identities, logos and digital assets of international organisations, including the World Bank, the International Fund for Agricultural Development (IFAD) and various UN agencies, to extort money from victims nationwide.

The CID said Hossain played a critical role in Bangladesh, managing the MFS accounts and SIM cards used in the fraud under the direct instruction of the overseas ringleader. He is also accused of coordinating domestic money transfers and sending proceeds to associates abroad, according to a press release. 

International organisations have alerted Bangladeshi authorities, warning that such misuse of their identities poses a threat to the country's global reputation and national security.

The Cyber Police Centre confirmed that numerous people across the country have been targeted using similar tactics, and several cases have already been filed. Investigators are now verifying Hossain's links to other incidents and identifying additional members of the cross-border network.

Hossain has been produced before court, where investigators have sought a 10-day police remand to trace other suspects, examine the financial channels used, analyse the fake websites and determine the full scope of victimisation.

The CID urged the public to remain vigilant, stressing that no government body or legitimate international organisation offers loans through Facebook, unknown phone numbers or unverified websites. Any request for money in the name of "fees, taxes, charges or verification costs" should be treated as fraudulent.

Members of the public have been advised to immediately report suspicious online offers or fraud attempts to the Cyber Police Centre.