StanChart refunds money clients lost in credit card fraud

Standard Chartered Bangladesh, the largest multinational bank operating in the country, has refunded its credit card customers who lost money in a series of fraudulent incidents. The StanChart statement said that during early September, they received complaints regarding fraudulent transactions from credit cards, through OTPs that were not generated by the clients. Based on these, the Bank has taken several steps to safeguard its clients. Naser Ezaz Bijoy, Chief Executive Officer of SCB, said, “A team from Bangladesh Bank is visiting each of the stakeholders' offices to review the process and the system.” SCB has already reported the issue with supporting information to law enforcement agencies, he said. “To avoid inconvenience to our clients, have refunded the sums involved to...