20 scam-hit e-comm cos still owe clients over Tk 650m

Twenty scam-hit e-commerce companies, including Eorange and Amar Bazaar, still owe over Tk 651 million to their customers, leaving thousands in financial uncertainty despite repeated assurances and regulatory pressure.

Data from the Ministry of Commerce shows that total stuck funds across 35 troubled online shopping platforms amount to a staggering Tk 5.42 billion, while 15 companies have returned over Tk 4.77 billion to customers so far.

However, more than a dozen platforms have yet to start refunds. These include Needs, 24TKT, Eorange, Wikum, Akash Neel, Priya Shop, Aladdin's Lamp, Amar Bazaar, Astha Pratik, Home Shop.com, Nirapod, Airmal, Bagura Eshop.com, Fanam.com Limited, Lakhsura Enterprise, Palli Store Limited, Tanvir Enterprise, and Infinity Marketing Limited.

Evaly, another scam-hit platform, began refunding customers earlier after ministry intervention, but the process remains slow. The commerce ministry, which launched the refund initiative in January 2022, hopes the remaining amounts will be returned within the next couple of months.

Payment gateways and service providers including Nagad, bKash, Software Shop (SSL), ShurjoMukhi, Foster Corporation, and United Commercial Bank are facilitating the refunds.

A state intelligence agency earlier recommended amending the Bangladesh Bank payment systems circular to include delivery deadlines for ordered products. The recommendation has been forwarded to the central bank, as the existing circular does not specify any timeframe, causing frustration among customers.

To restore discipline in the troubled e-commerce sector, the government launched the Digital Business Identification (DBID) system on February 6. The state-backed Registrar of Joint Stock Companies and Firms (RJSC) issued the DBID, aimed at improving accountability.

Experts urged the government to take prompt steps to restore consumer confidence and ensure resilience in the e-commerce market.

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