11 teams reformed to probe money laundering by 10 business groups, Hasina family
On 6 January, the Financial Institutions Division of the Ministry of Finance directed the BFIU to form the teams
Highlights
- BFIU restructured 11 teams to investigate 10 business groups and Sheikh Hasina's family
- Joint teams include the ACC, CID, NBR, and the Attorney General's Office
- The investigation is a high-level initiative by the interim government
The Bangladesh Financial Intelligence Unit (BFIU) has restructured 11 investigation teams to investigate allegations of illegal income, tax evasion, and money laundering by the country's top 10 business conglomerates.
The investigation also includes corruption charges against the family of ousted Prime Minister Sheikh Hasina.
Keep updated, follow The Business Standard's Google news channel
On 6 January, the Financial Institutions Division of the Ministry of Finance directed the BFIU to form the teams, which will be led by the Anti-Corruption Commission (ACC).
In a letter addressed to the BFIU, the finance ministry suggested that joint investigation teams could be formed to probe allegations of corruption, fraud, forgery, money laundering, and tax and customs-related crimes involving the country's top business conglomerates. The teams would comprise representatives from the ACC, the Criminal Investigation Department (CID) of the police, and the National Board of Revenue (NBR).
A BFIU official said on condition of anonymity that due to some technical issues, the previously formed teams were restructured. The investigation now includes links to Sheikh Hasina's family. However, no team has been dissolved; instead, changes have been made to the officials within the teams.
Previously, the ACC, CID, and the Customs Intelligence and Investigation Directorate had jointly launched investigations into allegations against the country's top 10 business conglomerates.
The ACC led investigations into six of these groups, while the CID handled four. Both agencies were tasked with submitting their investigation reports to the court upon completion.
The BFIU, the financial intelligence wing of the central bank, coordinated the joint investigations, with legal assistance provided by the Attorney General's Office. The investigation was initiated based on a high-level decision by the interim government.
