Data leak at Fareast Islami Life triggers fraud allegations and customer harassment

Staff Correspondent: A data leak at Fareast Islami Life Insurance Company has led to widespread allegations of customer harassment and financial fraud, as fraudsters reportedly exploited leaked sensitive information to deceive policyholders.

According to complaints filed by victims, fraudsters have been impersonating officials from the company’s head office and contacting customers to extract confidential banking details. The attackers allegedly used this information to siphon money from victims’ accounts.

At least two customers, Babul Pradhan and Muhammad Towhidul Islam, formally submitted written complaints to the insurer on February 3 and February 11, citing harassment and attempted fraud. Victims said callers posing as company representatives requested copies of ATM cards under the pretext of processing insurance payments, raising suspicions when alternative information such as bank account numbers was rejected.

The breach is believed to involve the personal and confidential data of 55,086 employees and officials of the company. The leaked information reportedly includes national identity details, bank account data, mobile numbers, salary information and employee identification records.

The incident dates back to May 27, 2024, when the data was allegedly transferred to a private entity named Subline Limited. According to case documents, the transfer was carried out through unauthorised access to the company’s digital systems, allegedly involving internal collusion.

Fareast Islami Life filed a case on August 4, 2025, under the Cyber Security Ordinance 2025 at Shahbagh Police Station. The case names former Chief Executive Officer Apel Mahmud, IT department head Lokman Faruk and Assistant Vice President Osman Gani, along with several unidentified individuals. The complaint alleges that the accused acted together for financial gain and unlawfully shared the data with Subline Limited.

Subline Limited is reportedly owned by retired Lieutenant General Sheikh Mamun Khaled, a former Director General of the Directorate General of Forces Intelligence. He had served as an independent director and chairman of the NRC committee at Fareast Islami Life, nominated by the Beximco Group. Former CEO Apel Mahmud claimed that the data transfer took place under Khaled’s instructions.

The controversy is further linked to broader governance issues in the company. In recent years, regulatory authorities had restructured the board following audit findings that revealed more than Tk 2,100 crore in financial irregularities. As part of that restructuring, Beximco-affiliated entities acquired approximately 20 percent ownership of the insurer.

In a separate development, law enforcement authorities recently detained Sheikh Mamun Khaled from his residence in Dhaka’s Mirpur DOHS. He has been placed on remand in connection with a murder case linked to the July uprising.

Efforts to obtain a response from the company’s acting CEO, Md Abdur Rahim Bhuiyan, were unsuccessful despite several attempts.