Assets worth Tk 400b in laundered money unearthed abroad

Revenue intelligence has tracked down nearly Tk 400 billion worth of assets amassed in different countries around the world through money laundering from Bangladesh.

National Board of Revenue Central Intelligence Cell (CIC) Director-General Ahsan Habib apprised Chief Adviser of the interim government Prof Muhammad Yunus that investigations had been conducted in seven cities across five countries since January this year, leading to this discovery, said a spokesperson for the CA Office on Sunday.

Chairman of the NBR Md. Abdur Rahman Khan was present when the CIC Director-General presented the findings to the head of post-uprising government at the State Guesthouse Jamuna in Dhaka on Sunday.

Additionally, 352 passports have been identified in nine countries that were obtained by some Bangladeshis in exchange for money.

The countries include Antigua and Barbuda, Austria, Dominica, Grenada, Saint Kitts and Nevis, North Macedonia, Malta, Saint Lucia, and Turkey.

Ahsan Habib explained that CIC investigators, after preliminary preparation using information from various domestic sources, conducted on-the-ground inspections in these countries to gather detailed intelligence.

"Further investigations are ongoing. So far, 346 properties have been traced that were amassed abroad in the names of individuals and organisations from Bangladesh. This is only a partial picture of our investigation," he said.

He emphasized that the CIC is working to seize these assets and repatriate them to Bangladesh, as well as ensure that those involved in money laundering are punished.

He notes that more than six international organisations are assisting Bangladesh in this asset-recovery process.

Ahsan Habib also said, "What we have found so far is just the 'tip of the iceberg'. We still have extensive information that will require more time to uncover."

He points out that during Sheikh Hasina's tenure, some individuals involved in money laundering placed their people within the Central Bank's CBS database control processes, erasing significant information. The CIC, however, has now gained the expertise to retrieve these deleted records.

After reviewing the details, the Chief Adviser stated that those involved in money laundering must be identified and brought under the law through coordinated action by the Anti-Corruption Commission (ACC), the CIC, police CID, and other relevant authorities.

"A precedent must be set so that no one in the future can loot national resources and amass assets abroad," he said about deterrence to siphoning off national wealth.

Directing the CIC to continue its investigations, the Chief Adviser said they must probe as deeply as possible and expand searches to other potential countries, with the government providing all possible support for bringing the nation's assets back home.

Describing this looting of the country's economic sector as a grave act of treason, the post-uprising reformist government's chief said, "If we want to build a prosperous country for future generations, these looters must be brought to justice."

He adds, "The public must be shown how some individuals have plundered national resources. For this, all agencies must work in a coordinated effort."

mirmostafiz@yahoo.com