Couple finally pays the piper for credit card fraud

A special team from the district police has arrested a husband and wife in Naogaon for embezzling Tk. 45,413,000 (4.54 crore) from Islami Bank. The couple carried out the fraud by circumventing the credit limit on an Islami Bank credit card. During the operation, Tk. 1.5 million (15 lakh) in cash was recovered, and two smartphones, seven ATM cards, and three checkbooks, all used in the commission of the fraud, were seized.

Superintendent of Police (SP) Mohammad Tarikul Islam disclosed these details during a press conference held at his office in Naogaon on Saturday (November 14) afternoon.

Prior to the arrests, members of the Sadar Police Station and the Detective Branch (DB) conducted raids in various areas of the neighboring Bogura district, apprehending the primary suspect, Md. Shahidul Islam Ripon, 37, and his wife, Maliha Tabassum Nishi, 28. The couple had transferred the funds into five separate bank accounts by utilizing the NPSB (National Payment Switch Bangladesh) network through various banks' ATM/CRM booths. This significant case of fraud and forgery was uncovered following a 36-hour-long operation carried out under the directives of the Superintendent of Police.

The arrested individuals are Md. Shahidul Islam Ripon, son of Abul Hasan from Akkelpur Madhyapara in the Badalgachhi Upazila of Naogaon, and his wife, Maliha Tabassum Nishi. Shahidul Islam was an investment client of the Naogaon branch of Islami Bank.

During the press conference, the SP explained that Shahidul Islam Ripon held an account and was an investment client at the Naogaon branch of Islami Bank. In 2015, the bank issued a "Khidmat Credit Card" to him, linked to his current account (No. 20501440100170105), with a credit limit of Tk. 100,000. Recently, using this card and the NPSB network via Pubali Bank’s ATM/CRM booths, he began executing a series of unauthorized fund transfers into five different bank accounts. While initial transactions were kept below Tk. 100,000, the amounts were then increased to as much as Tk. 250,000 per transaction, a clear violation of the authorized credit limit. Between June of last year and November 9 of this year, a total of Tk. 45,413,000 was embezzled from the bank through more than 420 separate transactions.

The Superintendent of Police (SP) further stated that the police initiated an investigation after Md. Faizul Islam, 44, a Principal Officer at Islami Bank, filed a formal complaint at the Naogaon Sadar Model Police Station. In response, a special police team, led by Sadar Police Station Officer-in-Charge (OC) Mintu Rahman and Detective Branch (DB) OC Hasibur Rahman, under the supervision of Md. Monirul Islam, conducted a 36-hour-long operation across various areas of Bogura Sadar. 

During this operation, they arrested the primary accused, Shahidul, along with his wife. Acting on information provided by the couple, police recovered Tk. 1.5 million in cash, which had been cleverly concealed inside a wardrobe in their bedroom, along with seven ATM cards, three chequebooks, and two smartphones.

SP Tarikul Islam stated that, during initial police questioning, the arrested couple confessed to their involvement in the fraud and forgery. They revealed that a significant portion of the embezzled funds, approximately Tk. 15 million, was used to purchase land in Bogura, while the remainder was spent on maintaining a lavish lifestyle. The SP added that an intensive police investigation is currently underway to determine whether any internal bank syndicate or other individuals were involved in the incident.

-    SC/NS