Based on secret information, a team of Cyber Crime Investigation Division under the CTTC carried out a drive at around 5:30 am on Tuesday and arrested the duo.
The two were accused of embezzling large amounts of foreign currency through fraudulent transactions at a foreign investment consulting firm, says a press release of the Dhaka Metropolitan Police.
Victims of financial fraud used to provide personal information as well as bank account information as part of the account opening process at the investment consulting firm. As part of the account verification, the company temporarily pays the amount of one dollar against each newly registered account to the bank account attached to that account. Once the verification process is completed, the money is returned to the account of the organization within 2/3 days.
During preliminary interrogation, it was revealed that the detainees had taken advantage of the financial institution’s account authentication process. They used to buy Social Security Number with fake name and address and anonymous account of foreign bank using Perfect money, WebMoney, payoneer account etc. from various domestic and foreign fraudsters through various social media.
Using this information purchased online, they used to create 300/400 fake accounts of that investment consulting firm against each bank account. Thus, if the money for 300/400 account verification was deposited together in a specific bank account, the fraudulent used to transfer the money to another bank account before the money was returned to the concerned institution
To accomplish this process they mainly used to use international mobile banking platforms like GO2Bank, Chime Bank etc. This fraudulent group has so far initially admitted that it has embezzled thousands of US dollars by creating numerous fake accounts.
This new type of fraud is known as “New Account Fraud”.
A case has been filed against the arrestees at the Ramna Thana Digital Security Act.