Bangladesh Bank warns public over unlicensed ‘Shohoz Cash’ platform

The regulator said it took notice of the issue after job advertisements appeared in several national newspapers, claiming that the company was in a “pre-operational stage” and was in the process of obtaining approval to operate MFS in Bangladesh. “In fact, no application has been received by Bangladesh Bank under the name Shohoz Cash Ltd, and no approval process is under way,” the bank said. The central bank warned the public to remain vigilant and refrain from any financial commitments involving the company. In a separate statement, the online ticketing platform Shohoz clarified that it has no connection with the entity using...