AI-robots are looking for MTFE CEOs
The Posts and Telecommunications Minister Mustafa Jabbar has called for increasing inter-ministerial and agency level communication to prevent fraud by institutions like MTFE using digital platforms. He highlighted the need to form a high-level task force with law enforcement agencies, intelligence agencies, DSA and BTRC, making Bangladesh Bank the lead agency to protect common people from illegal financial transactions and fraud through online.
On the other hand, the Cyber Intelligence and Risk Management Unit of the CID has entered the field to catch the criminals in view of the cases of the victims who have been silent. The special police superintendent of this unit. Rezaul Masood said that a fraud ring has stolen crores of taka by opening MTFE. Therefore, the artificial intelligence (AI) of the police is being used to catch the CEOs involved in the case of capital trading Dubai-based Forex app Foreign Exchange Group Inc. (MTFE).
According to the police, registration on the MTFE app required mobile number, bKash or Nagad number, bank account and national identity card number. Cryptocurrencies and dollars were traded virtually, but dividends were paid through mobile banking. Actions are underway to bring those who opened accounts on the app with mobile numbers, bank accounts and national identity card numbers under the law.
According to an emergency meeting organized by the Department of Posts and Telecommunications on Tuesday with representatives of various organizations, a company named 'TNS Borghat' has stolen crores of taka by using illegally opened merchant accounts. A fraud ring in China did it. The person in whose name the merchant account was opened has passed away long ago. By using the information of the deceased, a top official of a mobile banking institution opened the way for the fraudsters to grab the money. CID is investigating the incident. So far, evidence of embezzlement of Tk. 50 crore from 300 customers has been found.
MTFE, a Canadian and Dubai-based company, recently disappeared after grabbing tens of thousands of crores of taka through cryptocurrency. Since 2021, the apps-based company has been operating virtually in Bangladesh, but it has not come to the attention of the administration. They have fooled millions of people and now they are lost. They get scammed by claiming to give multiple times of investment. On August 7, it stopped withdrawing money from customers citing a technical error. Completely disappeared MTFE since August 17.
It is being claimed from various quarters that the number of customers of MTFE was 41 lakh. It is being claimed from some quarters that the number of customers was eight lakh. It has been alleged that MTFE has stolen money from millions of customers and smuggled about 10 thousand crore Taka from the country. No specific information is available on how much money MTFE has actually smuggled out of the country. However, the investigations so far, it is almost certain that if the MTFE has smuggled money out of the country, it has done so through mobile banking or internet banking. The amount of money to be smuggled can be thousands of crores of taka.
