HomeBangladesh Bank reviews bank accounts of 7 e-commerce firms embroiled in controversy

Bangladesh Bank reviews bank accounts of 7 e-commerce firms embroiled in controversy

The BFIU sent a letter to the banks on Tuesday (June 29). The letter said that if any account has been conducted in the name of the person concerned in the interest of these organizations and organizations, it should be informed if it is conducted now or in the past.

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Dhaka — The Financial Intelligence Unit (BFIU), controlled by the central bank, has summoned the bank accounts of seven e-commerce companies, including Alesha Mart. Apart from Alesha Mart, BFIU has summoned the bank accounts of , Sirajganj Shop, Aladdin’s Lamp, Boom Boom, Adian Mart and Needs.com.

The BFIU sent a letter to the banks on Tuesday (June 29). The letter said that if any account has been conducted in the name of the person concerned in the interest of these organizations and organizations, it should be informed if it is conducted now or in the past.

At the same time, they have to send the account opening form, KYC profile, updated transaction details from the beginning.

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Within a week of receiving the letter, the banks have been asked to send all the information related to the transactions of these institutions.

Recently, a number of banks suspended card transactions with these seven institutions as well as with , e- and Qcomm.

Earlier, several banks had suspended credit, debit and pre-paid card transactions at 10 online shopping sites, including Evaly and Alesha Mart.

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The Dutch Bangla, Prime Bank, Mutual Trust Bank (MTB), BRAC Bank, Bank Asia, Dhaka Bank, UCB, Citybank have banned transactions in these online merchants. BRAC, City, Mutual Trust, Bank Asia, Dhaka, and Prime Bank have already suspended transactions on certain e-commerce sites using their credit, debit, and prepaid cards.

There are allegations against these e-commerce companies for selling products at much lower prices than the market price in the name of various offers, taking money long before delivering the products and not delivering the products on time.

Earlier this week, the Commerce Ministry said after a meeting that no company would be able to take money before delivering the goods. The e-commerce organization is reported to be having a policy on transactions.

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