With the goodwill of the government, it is possible to bring back the money smuggled abroad. Traffickers could face trial, analysts say.
Money smuggled abroad can be brought back to the country through the legal process. Financial analysts say the government’s goodwill is needed first. Only then will it be possible to bring the money launderers to justice by enforcing the law properly.
Five government agencies have already filed reports in the High Court on money laundering abroad. According to the CID report, the names of expelled Juba League leader Ismail Chowdhury Samrat, Khaled Mahmud Bhuiyan, and former minister Barrister Moudud Ahmed came up. Selim Pradhan, BCB director Lokman Hossain Bhuiyan and councilor Mominul Haque Saeed are also involved in the casino scandal.
There are also employees like bureaucrats, officers, drivers of various departments, peons. Political leaders, managing directors of the company and other executives were not left out. Besides, the ACC has given information about the money laundering of Tk 2,500 crore in the name of more than 100 people. However, the high court expressed dissatisfaction with the ACC list.
The question is, even if so much money is smuggled, why it is not possible to bring it back? Concerned people think that the investigation agencies are also helpless as there are names of people involved in money laundering.
Khandaker Ibrahim Khaled, former deputy governor of Bangladesh Bank, said it was just an excuse. I think the money launderers are so powerful that it is not possible for them to get their money back. But now, as the Hon’ble High Court has asked, it may be a prescription.
Barrister AM Masum, company law, and economics analyst said there were provisions for severe punishment against these traffickers.
Under Section 4 of the Money Laundering Act 2012, the punishment for this crime is 12 years imprisonment and the money they have laundered must also be returned through a court order.
They think that it is possible to bring back the money smuggled in different countries including Canada through legal process. In this case, they emphasized the goodwill of the government.
The former deputy governor of Bangladesh Bank Khandaker Ibrahim Khaled said it was possible to bring back the money of Khaleda Zia’s son Koko from Malaysia. The rule of thumb is that you have to apply and work through the Attorney General. How much goodwill the government will have is also very important to get the money back.
Barrister AM Masum, Company Law and Economics Analyst, we have a court order, Bangladesh Bank, Financial Intelligence Unit, NBR, ACC, and the Ministry of Finance if the efforts of the money can be returned.
About Tk, 64,000 crore is smuggled out of the country every year in the name of international trade. The High Court wanted the list a month ago as there were no statistics on the number of traffickers.