At a workshop on money laundering and tax evasion, top officials from the National Board of Revenue (NBR) revealed that banks are obstructing investigations by providing incorrect information, delaying reports, or outright refusing to share data regarding financial misconduct by oligarchs involved in bank and stock market fraud. Officials reported that a fraudulent pay order was created to legalize 5 billion taka belonging to the two sons of businessman S Alam. Upon discovery, details of the bank accounts were deliberately concealed. The director general of the Credit Information Bureau (CIB) remarked that Bangladesh has witnessed one of the largest banking frauds in history. Investigations found transactions amounting to 2.42 trillion taka linked to Alam’s company. Even with 10 computers and seven officials working for a month, data entry was incomplete. Furthermore, although the company earned 678.1 billion taka in bank interest, it was not reported in tax returns. Shockingly, despite being born in Bangladesh, Alam renounced his citizenship to acquire foreign nationality, allegedly for financial maneuvering.