The bank is correct in their stand, and they have just debited your account, and as per your directions remitted the amount to that forum. They have carried out your standing instructions. If a depositor makes payment to the payee, and if the payee fails to deliver his obligations, bank is not concerned with such illegal actions. Yes. this is a fraud. The remedy can only be through handling by an expert advocate, as common may not fight against such brokers, banks, and other authorities. Undoubtedly it is a crime and you have to find a remedy against that forum that received your money through the bank account. Immediately file a complaint to SEBI on line.