Alleging suspicious transactions
Special Correspondent: A number of Nagad users have claimed that they have been unable to conduct transactions on their accounts because the mobile banking service provider has suspended them for suspected anomalous purchases with e-commerce platforms.
Some of them even flocked to the Nagad headquarters in Dhaka yesterday to testify to the transactions’ legitimacy, claiming to have proper documentation.
Following signs of questionable transactions with several e-commerce platforms, Nagad said it handed information concerning a few accounts to regulators and law enforcement agencies on September 4.
Several Nagad customers have told that their accounts have been stopped despite having documentation of genuine transactions.
“We have several proofs of legal transactions. What makes them skeptical of us?” Al-Amin, a private employee, expressed his thoughts.
In May and June, he ordered things on the e-commerce platform Sirajganjshop.com valued roughly Tk 6 lakh and paid using Nagad after the MFS operator gave up to Tk 8,000 in discounts.
“Sirajganjshop.com, on the other hand, reimbursed the money in stages in late August after failing to deliver the merchandise. Because there is a restriction, I couldn’t withdraw the entire money “Al-Amin remarked.
Nagad sent him an SMS on September 4 indicating the account had been blocked owing to “suspicion of anomalous transactions with some unethical e-commerce businesses.”
He claimed, “I have more than Tk 2 lakh in the account.”
Many consumers, like Al-Amin, voiced anxiety and stated they were unsure whether they would be able to get their money back through Nagad after it was reimbursed by e-commerce platforms.
“I’m not sure if I’ll get my money back,” Kamrul Hasan, 30, of Faridpur Sadar, said. Sirajganjshop.com refunded him Tk 28,035.
On August 28, Hasan ordered three smartphones at a 10% discount and paid Tk 28,035 through Nagad, which gave a 20% discount.
“Because Shirajganjshop.com was unable to deliver the phones, the same amount was refunded to my Nagad account on September 1st. I couldn’t access my account later that night when I went to check the balance.”
Nagad sent him an SMS after a day, explaining that the account had been temporarily suspended due to irregular transitions.
Labib Ahmed, a Bagerhat-based small business owner, ordered two motorcycles and two smartphones from Aladiner Prodip two and a half months ago and paid almost Tk 2.55 lakh after discounts.
The platform repaid the money to Nagad on September 1, but he was unable to pay it out.
After noticing an unusual transaction pattern and affiliation with a few e-commerce sites, Nagad said a few accounts were temporarily stopped recently.
“The account activation process is underway, and all procedures are being followed. We apologize for any trouble this has caused our consumers”.
A demonstration did not take place in front of the Nagad office, according to the MFS operator.
It added that a few people arrived with questions about the status of their accounts, and they returned happy after learning more about the difficulties after talking with Nagad customer service representatives.
In collaboration with the authorities, including the Bangladesh Financial Intelligence Unit, the Counter Terrorism and Transnational Crime Unit, and the Bangladesh Telecommunication Regulatory Commission, Nagad has temporarily suspended some accounts.
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