Asia-Pacific · GDP rank #36

Bangladesh

BD · BDT @ 0.0082/USD

Bangladesh runs the world's third-largest mobile-money market by user count, anchored by bKash (75m registered users, ~63% of MFS market share), Nagad (~95m, fast catching up on state-payments distribution) and Rocket. Mobile Financial Services account for the bulk of retail digital payments; cards are a smaller, urban-skewed channel. Bangladesh Bank launched the interoperable Binimoy platform in November 2022 to unify wallet-to-bank-to-wallet rails; volumes scaled materially in 2024–25 as RMG (ready-made-garments) payroll moved decisively onto digital wallets. The 2024 taka unification under the IMF ECF programme reset the FX line and pulled remittance flows back through formal channels.

Tab 06

Fraud & security

Headline fraud totals and typology splits, the rollout of EMV chip, tokenisation, 3DS and biometrics, and the controlling data-protection and payments statutes.

Annual fraud losses

BDT 1.4B▲ +34% vs 2023

BDT · 2024

Loss rate

~7bp

basis points on transaction value · 2024

CNP share of fraud

58%

% · 2024

Fraud typology

Where losses come from

Card-not-present dominates every developed-market fraud profile — counterfeit and lost/stolen have both been mechanically suppressed by EMV and tokenisation over the last decade.

Share of card fraud

MFS social-engineering / mule account+62%
Card-not-present (e-commerce)58%
ATM skimming11%

Authentication

What's deployed on cards today

EMV is the floor; tokenisation removes PAN from merchant systems; 3DS covers the CNP flow; biometric auth drives device-level wallet transactions. Adoption gaps between markets are the clearest signal of fraud-regime maturity.

EMV chip penetration

100%

% · 2024

Bangladesh Bank mandated full EMV migration by end-2018.

Tokenised transactions

~15%

% · 2024

3DS coverage · CNP

78%

% · 2024

Biometric mobile wallet txns

~70%

% · 2024

Consumer protection

Framework: Bangladesh Bank Customer Services and Complaint Management Department; PSP/PSO Regulations for non-bank providers; Bangladesh Telecommunication Regulatory Commission for MFS USSD/SMS layer.
Max consumer liability: BDT 1,500 for unauthorised card transactions reported within 30 days (issuer discretion)
Liability rules: Unauthorised card transaction liability typically capped where customer reports within 30 days; bank discretion on gross negligence. MFS fraud reimbursement on a case-by-case basis, no statutory mandate. Bangladesh Bank's 2024 consumer-protection circular tightened MFS provider obligations on mule-account detection.

Source · Bangladesh Bank

Security standards

▌PCI DSS 4.0 mandated by Bangladesh Bank for acquirers and processors
▌3D Secure 2.0 mandatory on CNP card transactions
▌MFS app biometric/PIN dual-factor required at transaction level
▌Bangladesh Bank Cybersecurity Department oversight for scheduled banks and MFS operators
▌Information and Communication Technology Act 2006 (amended 2013) — cybercrime framework