"We have to be more cautious in selecting remittance houses in the future," the central bank Governor Salehuddin Ahmed told reporters yesterday, as the Fast Solution's fraud shook the remittance market in Dhaka and London.

He made the remark after attending as chief guest the concluding ceremony of a training course for the newly recruited 100 assistant directors of Bangladesh Bank at its training academy.

He stressed the need for increasing security money of the remittance houses in the banks that have agreements with the firms.

In reply to a question about the recent scam committed by the Fast Solution, a company run by a Bangladeshi group in the UK, Salehuddin Ahmed said the Bangladesh Bank did not give licence to this remittance firm.

"The central bank officials today held a meeting with the officials of the banks who have agreement with this remittance house," he said about the process initiated by the regulators to help out the Bangladeshi expatriates who sent their hard-earned money through the Fast Solution, now declared bankrupt with its owners hiding.

The governor expressed his optimism about giving a considerable solution to this problem.

In this regard, he disclosed a plan that the central bank would contact the Serious Organised Crime Agency (SOCA) of the United Kingdom to break the case.