The Detective Branch of Dhaka Metropolitan Police has arrested five people for their alleged involvement with an e-loan fraud racket that lends money illegally at high interest rates.
They have already defrauded their clients of money using two personal unauthorised loan apps – Cashman and Tkala.
DMP Assistant Commissioner (Media and Public Relations) Abu Taleb told The Business Standard that they will brief the media in detail on Thursday.
The CID has come to know that app-based illegal moneylending at exorbitant interests is running without any permission from the Bangladesh Bank and Department of Cooperatives and ICT Division,
Detectives suspect there are strong possibilities of whitening black money and money laundering through such apps.
Detectives also received allegations that online moneylenders blackmail many customers with their confidential personal information.
They have already sent a letter to the Bangladesh Financial Intelligence Unit, seeking bank account info on 12 e-loan apps.
Kamrul Ahsan, additional deputy inspector general of CID Cyber Police Centre, told TBS, "We are investigating several e-loan apps and have sought info on bank transactions by a few of them. We will take action only once we get clear evidence."
Meanwhile, Financial Crime Special Superintendent of Police Humayun Kabir told TBS that they are also investigating whether money laundering and embezzlement occurred through these apps.
Earlier, the Criminal Investigation Department (CID) launched an investigation into 26 e-commerce sites, gaming platforms and e-loan apps that reportedly swindled thousands of crores of taka out of customers on the pretext of selling products, online investments and e-loans on e-commerce platforms and social media.