A new threat to banking sector
A new kind of fraud involving ATM booths is being suspected by law enforcement agencies after six Ukrainian citizens were arrested in Dhaka. It has been revealed that money was withdrawn from the ATM of a renowned private bank, but neither was any transaction recorded in the bank server nor was any money deducted from any client’s account.
The on-duty security guard at the booth immediately reported to the bank authorities after getting suspicious. A new technology had been used because of which the connection between the machines and the bank servers was removed. The software incorporated is being looked into while the bank authorities and law enforcers have fortified ATM booth security until a viable solution is worked out.
Such incidents of foreign nationals withdrawing money through illegal means from ATM booths are nothing new in Bangladesh. According to a 2018 survey by Bangladesh Institute of Bank Management (BIBM), 62 percent of the country’s scheduled banks are susceptible to cyber-attacks while 28 percent of the banks are not even equipped to deal with them.
We must be aware of the kind of technology being used to commit such crimes so that we can tackle them. Banks around the country must be alert to such fraudulent practices and take necessary steps to prevent their recurrence.
Md Zillur Rahaman, Gandaria, Dhaka
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