Ten joint groups had been constituted to review allegations of earnings evasion and money laundering challenging prominent figures and business entities linked with the ousted Awami League executive.
The Bangladesh Financial Intelligence Unit (BFIU) has uncovered the proof of cash laundering by influential business figures, per sources on the Financial Institutions Division (FID) and the Bangladesh Bank (BB).
The FID disclosed that the groups had been established following consultations with and advice from the Ministry of Finance.
An officer nominated by the Anti-Corruption Price (ACC) will lead the investigation, with the BFIU performing as the coordinating physique.
People of the joint groups include representatives from the Customs Intelligence and Investigation Department and the Prison Investigation Department (CID) of the police.
These joint groups will delve into allegations of cash laundering challenging several high-profile groups and folks, including the S Alam, Beximco, Nabil, Summit, and Aramit Groups.
Moreover, the groups are investigating extinct Deliver Minister for Land Saifuzzaman Chowdhury for alleged money laundering.
A letter in search of recordsdata on their financial activities own already been dispatched to a bunch of nations, including the US, the UK, Singapore, Canada and the United Arab Emirates.
Senior FID officers published that on 4 December, the BFIU sent a proper verbal change to the investigating agencies.
The letter detailed fresh findings, which demonstrate instances of mortgage funds being diverted from various scheduled banks into varied sectors by device of corruption, fraud, and forgery, in violation of banking regulations.
“Records has been chanced on in opposition to those business groups of tax and customs evasion, money laundering below the guise of international swap, and various unlawful programs of cash laundering in a international nation. It’s miles severe to conduct additional investigation into whether these groups and folks own embezzled financial institution mortgage money, laundered money bought by device of various glorious or unlawful methodology, or smuggled it in a international nation,” reads the letter.
The investigation groups, comprising the ACC, CID, and Customs Intelligence and Investigation Department below the National Board of Income (NBR), are tasked with determining the extent of wrongdoing.
The ACC-nominated officer will lead the inquiry and, upon acquiring agency approval, will post rate sheets to the court.
Transparency Worldwide Bangladesh (TIB) estimates that some $3 billion is laundered yearly whereas the Worldwide Financial Integrity Institute (GFI) locations this resolve closer to $8.7 billion.
