THE current mugging spree targeting the mobile banking agents has pushed this banking outlet to vulnerability while it is considered as a perfect platform to take banking to the unreachable rural population. A Thursday news report said, mobile banking agents are increasingly being attacked, shot at or stabbed by muggers in and outside the capital city Dhaka. The unexpected apathy of police high-ups has made the bankers frustrated as the police said, it is quite impossible to guard vendors sitting in alley-way or on footpath. It is hard to believe that the law enforcers have an ally with the snatchers as they rebuff to secure the business. Earlier on July 20, the police headquarters instructed all Divisional Range Deputy Inspectors General and Metropolitan Police Commissioners to take necessary steps to curb mugging of mobile banking agents. But the situation remains unchanged. Surprisingly, the operating banks concerned are also reluctant to provide security to the cash in movement of the agents.
The reports say, the muggers snatched over Tk 1.4 crore from the mobile banking operators in April-September period. At least nine incidents took place, in which the muggers shot at or stabbed 15 mobile banking vendors and a pedestrian. In many cases, vendors were attacked while going to deposit the pulled money in the banks. It is shocking when scams in banking sector have eroded the people’s confidence, the insecurity of mobile banking would only frighten the customers, mostly garment workers and small traders.
Presently, six mobile phone operators are involved in e-cash handling while 28 banks are authorized to carry mobile banking and 19 of them are in active business. There were more than 13.2 million registered users as of December 2013, transacting around Tk 6,600 crore per month through 182,000 agents, according to available data from operators’ sources. In fact, the money transfer through mobile banking all over the country has become easier and speedy compared to other formal banking channels. Though, it is becoming progressively popular to the common users, the unreached ones in particular, the security concern related to its modus operandi primarily from the designated officials to agents and eventually to the clients has now become a big question of its very possibility or operational success.
Since the mobile banking service is still highly vulnerable to risks at many points, we ask the banking authorities and the law enforcers to assure the security of the agents and their money to sustain this potential banking system. Or else the very purpose of introducing mobile banking will be jeopardized.
The reports say, the muggers snatched over Tk 1.4 crore from the mobile banking operators in April-September period. At least nine incidents took place, in which the muggers shot at or stabbed 15 mobile banking vendors and a pedestrian. In many cases, vendors were attacked while going to deposit the pulled money in the banks. It is shocking when scams in banking sector have eroded the people’s confidence, the insecurity of mobile banking would only frighten the customers, mostly garment workers and small traders.
Presently, six mobile phone operators are involved in e-cash handling while 28 banks are authorized to carry mobile banking and 19 of them are in active business. There were more than 13.2 million registered users as of December 2013, transacting around Tk 6,600 crore per month through 182,000 agents, according to available data from operators’ sources. In fact, the money transfer through mobile banking all over the country has become easier and speedy compared to other formal banking channels. Though, it is becoming progressively popular to the common users, the unreached ones in particular, the security concern related to its modus operandi primarily from the designated officials to agents and eventually to the clients has now become a big question of its very possibility or operational success.
Since the mobile banking service is still highly vulnerable to risks at many points, we ask the banking authorities and the law enforcers to assure the security of the agents and their money to sustain this potential banking system. Or else the very purpose of introducing mobile banking will be jeopardized.
