Investment Scam Ecosystem in Bangladesh and Its Links to Human Trafficking and Illicit Finance
Year: 2025
Type: preprint
Abstract: Hybrid investment fraud in Bangladesh is an emerging form of cyber-enabled crime that combines online financial scams with elements of human trafficking and transnational illicit finance. Despite growing concern, little empirical research has examined how these schemes operate in South Asia. This study addresses that gap by analyzing 94 official complaints filed between 2023 and 2025 to map the structure and impact of these scams. Findings show a staged scam lifecycle in which victims are first approached via social media and coaxed into making small deposits through mobile financial services (MFS), before being escalated to larger bank transfers. Losses are highly unequal; a small number of cases account for a large share of total harm. Using criminological frameworks, the study interprets these patterns to highlight opportunities for targeted prevention. It recommends focusing oversight on the payment transition from mobile to bank channels and prioritizing enforcement on high-loss cases. This research is among the first to document Bangladesh’s scam ecosystem and offers practical insights for countering financially and socially exploitative cybercrime.
Source: Research Square
Authors: Md Ariful Hossain Tuhin, Shafiul Azam Azam, Md Khairul Alam, Pijush Kumar Dey
Institution: Bangladesh Bank
Language: English
Subfield: Law
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W4416946657