A new wave of online gambling fraud has exposed serious gaps in Bangladesh’s banking system. Investigators have traced dozens of local accounts used for laundering money through illegal gambling websites.
These accounts were opened using forged documents and fake identities, bypassing Know Your Customer (KYC) regulations. Once active, they received thousands of daily micro-transactions from mobile wallets and gambling apps.
Bank officials admit the fraud went unnoticed due to the high volume and small transaction sizes. Now, financial watchdogs are urging banks to revisit KYC protocols and enhance real-time transaction monitoring systems.
This case highlights the ease with which criminals exploit regulatory loopholes to facilitate large-scale gambling fraud in Bangladesh and the broader region.
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