The Anti-Corruption Commission (ACC) of Bangladesh has formally opened an investigation into several officials of Eastern Bank PLC (EBL) regarding allegations of systemic financial misappropriation and the fraudulent issuance of credit cards. The inquiry is specifically targeted at the suspected embezzlement of 547,143 BDT and the subsequent financial victimisation of citizens through unauthorised debt liabilities.
The decision to initiate this formal probe was recently ratified by the Commission’s leadership, leading to the immediate assignment of an investigative team from the ACC’s Dhaka Integrated District Office. A senior official within the anti-graft agency confirmed the development on Tuesday, 5 May 2026, indicating that the investigation will look beyond isolated incidents to determine if a broader pattern of irregularity exists within the bank’s credit card operations.
Nature of the Alleged Fraud and Misappropriation
According to preliminary reports from the ACC, the crux of the complaint involves the unauthorised creation of credit cards in the names of individuals who had neither applied for nor consented to such financial products. It is alleged that compromised officials at Eastern Bank exploited internal administrative loopholes to bypass mandatory verification protocols. By creating these “ghost” accounts, the perpetrators were allegedly able to siphon funds from the bank under the guise of legitimate consumer credit.
The confirmed sum under scrutiny, 547,143 BDT, is believed to have been siphoned through these fraudulent instruments. However, the scope of the harm extends beyond the direct theft of capital. The ACC is investigating numerous reports of “financial harassment,” wherein innocent individuals—whose identities were stolen to create the cards—were allegedly pressured by the bank’s recovery departments to settle outstanding debts. Victims have reported:
Legal Intimidation: Receiving formal legal notices for debts they did not incur.
Credit Rating Damage: Experiencing a significant downgrade in their credit standing at the Credit Information Bureau (CIB) of Bangladesh Bank, hindering their ability to secure legitimate loans.
Administrative Coercion: Persistent pressure from bank officials to pay “settlement amounts” for fraudulent transactions.
Investigative Mandate and Procedural Scope
The Anti-Corruption Commission has issued a strict set of directives to the Dhaka Integrated District Office to ensure the inquiry is both comprehensive and time-efficient. The investigating officers have been granted the authority to:
Conduct Comprehensive Audits: EBL is required to surrender all relevant digital and physical documentation, including original credit card application forms, verification reports, and detailed transaction logs linked to the disputed accounts.
Pinpoint Internal Complicity: The probe focuses on identifying the specific staff members within the credit and card divisions who held the requisite authorisation levels to override standard security measures and bypass Know Your Customer (KYC) requirements.
Formulate Legal Recommendations: Upon conclusion, the team must submit a detailed report featuring evidence-based recommendations. This will determine whether formal charges will be pursued under the Prevention of Corruption Act, 1947, and relevant sections of the Penal Code.
The ACC has stressed that the investigation must be finalised within the statutory timeframe mandated by the Commission’s operational rules to ensure that evidence remains untampered and that accountability is swift.
Regulatory Implications for Banking Integrity
This investigation transpires amidst a period of heightened scrutiny by the central bank, Bangladesh Bank, which has been actively tightening its oversight of digital banking and credit operations across private commercial banks. The alleged issuance of fraudulent credit cards at a major institution like Eastern Bank PLC suggests a potential breakdown in internal audit mechanisms and a failure of the mandatory KYC compliance framework.
Eastern Bank PLC, a prominent entity in Bangladesh’s retail banking sector, now faces a significant challenge to its operational reputation. The outcome of the ACC’s inquiry may trigger additional regulatory audits by the central bank to identify and rectify systemic vulnerabilities across the wider banking industry.
The ACC spokesperson reaffirmed the Commission’s commitment to preserving the integrity of the nation’s financial sector. The agency noted that it will prosecute any complicit official, regardless of their seniority or rank, if evidence of misappropriation of public or institutional funds is established. Further details regarding the specific branches or departments involved are expected to be disclosed as the discovery phase of the investigation progresses.