Bring back laundered money

Transparency International Bangladesh (TIB) has urged the government to take steps to bring back the money laundered from Bangladesh although no name of any Bangladeshis is found in Panama Papers.

"Against the backdrop of some recent international reports that reveal money is being smuggled outside the country, we urge the government to take steps to bring back the money through the Bangladesh Bank, the Anti Corruption Commission (ACC), National Board of Revenue (NBR) and attorney general's office," said Dr Iftekharuzzaman, executive director of TIB.

In a statement yesterday, he demanded ensuring harsher punishment against the people involved.

Bangladesh is a signatory of the United Nations Convention against Corruption (UNCAC); it can take the opportunity of this legal instrument to bring back money through bilateral negotiations with countries concerned, and legal and technical assistances, said the TIB chief. Iftekhar said Panama Paper leak, which reveals recently that many global influential people were involved, has proved again that corruption is a global problem.

On Thursday, the ACC formed a three-member team to bring the Bangladeshi citizens and institutions named in Panama Papers under its scanner. "The names…surfaced in the media alleging that they have linked with Panama Papers scam. The Commission will launch probes against them," ACC secretary Abu M Mustafa Kamal told reporters at his office on Thursday.