Bangladesh mulling regulatory body, new law for e-com sector

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The Bangladesh government is mulling over forming a regulatory body and enacting a new law to strictly monitor the e-commerce sector amid reports of fraud, commerce minister Tipu Munshi told reporters after a meeting on recent problems in the sector. This regulatory authority will register e-commerce firms and a central complaint cell will also be set up.

“We will try to ensure that these companies cannot cheat customers anymore. Every company must obtain a unique business identification number from the commerce ministry,” Munshi was quoted as saying by Bangla media reports.

He also urged people to control their greed to buy products at lower prices from e-commerce platforms to keep themselves safe from fraud. 

Referring to allegations against some e-commerce firms, the minister said the government cannot shut down the entire e-commerce sector for the fraud committed by 10-12 companies as thousands of people are involved in the sector. He promised tough action against e-commerce fraudsters. The Digital Security Act and the Money Laundering Act will be suitably amended to ensure legal action against fraudulent companies.

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