Banks losing clients\\\' documents!

FE Team | Published: November 18, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Banks in the country have been losing documents submitted by clients despite assurances about security of transactions and savings.
The list of loss ranges from cheques, demand drafts, documents on Fixed Deposit Receipt (FDR), SDR, Mudaraba Term Deposit Receipt (MTDR), pay orders and Letter of Credit (L/C) documents for export and import.
Various branches of at least 14 banks in Dhaka and outside have reported losing such documents in the past two months.
There has been an attempt to cash a stolen cheque while others sent from abroad have 'disappeared' even after reaching the post office.
As these irregularities surge, distressed clients believe a group of fraudsters are out to cash in on the negligence of sloppy bank officials.
According to the Bangladesh Bank, a bank must take responsibility if a document is stolen from its custody.
At least six banks have lost documents in October, according to a bdnews24.com investigation.
In each case, the erring banks have written to all other banks warning them about the possibility of these 'lost documents' being used for encashment.
Social Islami Bank Ltd (SIBL) has lost two MTDRs, while Dhaka Bank's general division seven cheque books of clients.
One MTDR has gone missing from Union Bank, while two pay orders from South Bangla Agricultural Bank and two export loan documents from NCC Bank.
Six demand drafts, seven pay orders and documents for 25 FDRs have been lost from the Rupali Bank.
The state of abysmal security came into focus after 55 cheques were reported to have been stolen from a drawer of the clearing desk at Sonali Bank's branch in Dhaka's Lalmatia on October 26.
An unidentified man later tried to cash one of these lost cheques at Standard Chartered Bank but fled when officials called the person who placed it.
A senior official from the state-owned bank's Lalmatia branch was removed for negligence and a four-member committee was formed to probe the incident.