Technology is changing the face of the banking in the country, but risks of technology-enabled financial crimes are also on the rise. Police on Wednesday arrested a foreigner on charge of using fake ATM cards to steal money from different Nepali banks. A team from Nepal Police’s Central Investigation Bureau arrested Gulen from Durbarmarg-based Hotel Woodland where he had checked-in on November 15. Police said Gulen, who arrived in Nepal on November 13, had visited Thailand, Qatar and India.
Since 2009, when Nepal Development Bank was declared crisis-ridden and successive incidents of banking frauds with the involvement of bank officials, much attention was being paid on controlling such frauds. But over the last two years, technology-driven frauds—particularly those related to debit cards with the involvement of bank officials, and incidents of phishing—have also emerged as major threats in the domestic banking industry.
