Police arrest IT expert Nazmus Saaqeb over alleged international debit card fraud

Police have arrested Nazmus Saaqeb Nayeem, an IT specialist who has worked in local and foreign banks, on charges of embezzling Tk 35 million by hacking an international Visa debit card of a Bangladeshi expatriate businessman.

Saaqeb studied at The International University in the US and has a sound knowledge of information technology.

He introduced different digital services, including the online hotel booking website Pekhom, in Bangladesh.

Before his arrest on Aug 25, Saaqeb had been working as an IT expert to update online payment gateway systems at different banks in Bangladesh.

He had delivered speeches as a guest speaker in eight to nine universities in different countries, including the UK, Singapore and Thailand.

Saaqeb also holds top positions in many reputed organisations in Bangladesh. He had been involved with different foreign organisations as well.

He had investigated on his own the 2016 cyber-heist of the Bangladesh Bank’s account in the Federal Reserve Bank of New York.

“The man of international repute misused his talent to commit fraudulent acts,” said Harunor Rashid, a deputy commissioner of Dhaka Metropolitan Police.

Police arrested Saaqeb along with his wife's elder brother Moinul Islam Mamun during investigation into allegations of fraud brought by Abdul Wahed, an expatriate businessman in Papua New Guinea,

The court sent them to jail on Tuesday after they “confessed” to the crimes during a five-day remand, said Harun.

Wahed said in the case he started business after leaving teaching profession in Papua New Guinea. He then became the managing director of Desh Besh Enterprise Ltd. He opened a bank account in the name of South Pacific Ltd and obtained a Visa debit card for business purposes.

The businessman alleged he found his debit card blocked when he went to Singapore in 2014.

Papua New Guinea authorities told Wahed that they had blocked the card after noticing suspicious transactions.

He visited four countries to trace the money but his attempts failed, Wahed said.

He finally initiated a case at Tejgaon Industrial Area Police Station in Dhaka in December last year after finding that one of the transactions was made for Thai Airways office at Shanta Western Tower in the area on Aug 4, 2014.

Ali Hossain, the OC of the police station, said they arrested Saaqeb and his brother-in-law after they became certain about their involvement in the fraud in the investigation for eight months.

According to the case dossier, the alleged fraud took place between Jul 21 and Oct 17, 2014.

Harun said Saaqeb made around 1,500 payments for online purchase of goods during the two and a half months. He also toured different countries with his wife and relatives.

“Saaqeb is repenting now. He says he took it as a game and he will fully refund the businessman,” the police officer said.

He also said they were checking whether Saaqeb was involved with other acts of fraud.