Commercial Bank accounts at risk? Dhammika’s share sale related to that?
2026-02-10 - 11:39
Reports indicate that Commercial Bank of Ceylon PLC, a leading private commercial bank, has been unable to prevent an alleged scheme in which customers’ funds are siphoned off through a website mimicking its “ComBank Digital” platform. The matter came to light again after vehicle trader W.M.C. Wickramasinghe of 448/N/24, Ihala Udugampola, lodged complaints yesterday (Feb. 09) with the Police and the Criminal Investigation Department (CID), claiming that Rs. 1,999,777 had been fraudulently withdrawn from his account. The plaintiff had initially informed management of the bank before filing the CID complaint. Meanwhile, several other complaints involving unauthorized access to the bank’s online banking system and fraudulently created apps resembling its digital platform are currently being heard in several courts, including the Colombo Chief Magistrate’s Court. ‘Sri Lanka Mirror’ had reported from about 05 months ago that there appeared to be a loophole in Commercial Bank’s cybersecurity system, based on a complaint lodged with the Negombo Divisional Crime Investigation Bureau. In that particular case, nearly Rs. 500,000 had reportedly been withdrawn from a customer’s account without his acknowledgement. Cyber security loophole plaguing Commercial Bank customers? Did Dhammika divest due to cyber concerns? About a month after these cyber concerns surfaced, prominent businessman Dhammika Perera sold his shares in Commercial Bank worth Rs. 5.5 billion. In the market, 26.55 million voting shares were traded at Rs. 195 per share via 39 crossings. Overall, 29 million shares changed hands for Rs. 5.68 billion, representing 43% of the day’s trading. The voting share closed at Rs. 203.25, up 3% or Rs. 6.25. Dhammika’s stake in Commercial Bank is not strategic but part of his trading portfolio. As of the end of June, he held 39,226,489 voting shares (2.5% stake), ranking as the 11th largest shareholder. By the end of the previous year, he was the 8th largest shareholder with 3.66% stake, holding 55.2 million voting shares. Speculation has arisen in the market as to whether his decision to divest was influenced by the cyber issues reported within the bank’s digital systems. Commercial Bank assures digital systems are safe Meanwhile, Commercial Bank has repeatedly maintained, through its official social media channels and advertising, that their digital banking system is secure. Related News: Cyber security loophole plaguing Commercial Bank customers? 08 remanded over fake ComBank website scam Over Rs.06 bn. siphoned from Commercial Bank accounts! Commercial Bank assures their digital banking systems are safe