ACC compiles 68 individuals, entities as money launderer

The Anti-Corruption Commission (ACC) has compiled a list of 61 Bangladeshi individuals and 7 entities published in Panama Papers and Paradise Papers leak as money launderer.

However, none of the listed individuals is a public servant.

In response to a High Court order, the ACC prepared the list on the basis of media reports and the International Consortium of Investigative Journalists (ICIJ) website, said a report submitted in the High Court on Thursday.

The Anti-Corruption Commission has opined it cannot proceed with the investigation process against the individuals and entities whose names came into the Panama Papers and Paradise Papers leak as money launderer without full name and address, proper information of offshore investment and relevant other records of the investment.

The ACC said, “An investigation process cannot be conducted with list of 61 individuals and 8 organisations that has been found in the Panama Papers and Paradise Papers leak as money launderer. In this case, it is not possible to proceed with the investigation process without full name and address, proper information of offshore investment, and relevant other records of the investment.”

Earlier on Wednesday, the Bangladesh Financial Intelligence Unit (BFIU) submitted a list in the High Court compiling 69 individuals and entities whose names came into the Panama Papers and Paradise Papers leak as money launderer.

The Bangladesh Financial Intelligence Unit received responses from the Financial Intelligence Units (FIUs) of different other countries about only 10 individuals and entities among the 69.

Following a writ petition, the High Court bench headed by Md Nazrul Islam Talukder on February 28 last year wanted to know the names of the Bangladeshi nationals who have deposited money in the banks of Switzerland (Swiss banks) and what steps have been taken to bring back that money and issued the rule.

It also asked the respondents to explain as to why a direction should not be given to initiate an immediate probe upon Bangladeshi companies and citizens disclosed in the Panama Papers and Paradise Papers leak and to submit a compliance report of the progress before the court every month.

In response to the order, the Anti-Corruption Commission on December 5 in 2021 submitted a report in court. In the report, the ACC listed 29 individuals and entities whose names came into the Paradise Papers and 14 other individuals and entities whose names came into the Panama Papers as money launderer.

Upon hearing the ACC report, the court on December 6 last directed the Bangladesh Financial Intelligence Unit (BFIU) and the Criminal Investigation Department (CID) of Police to submit separate reports in the court over their steps taken against the persons whose names came into the Paradise Papers and Panama Papers leak as money launderers.

Lawyer Khurshid Alam Khan who appeared in the hearing on behalf of the ACC said the report that was submitted by the ACC earlier was incomplete. That is why we have submitted this supplementary report to the court, said the lawyer adding that the court may hear the matter next Sunday.

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