Adequate preparation must for success in money laundering cases

If we learn from history, we can see that around 2008-09, many cases related to anti-money laundering and corruption were filed together. The main reason for the failure to prove these cases was that too many cases were filed in a short time without adequate preparation to win them.

Currently, there is a focus on prioritising 11 cases for the recovery of laundered money. The Bangladesh Financial Intelligence Unit, Anti-Corruption Commission, National Board of Revenue, and other relevant government agencies are now involved in these 11 cases. Their attention should now be on these cases.

When multiple agencies work on the same issue, coordination becomes complicated, and there can be delays in action. However, if these issues are resolved and progress is made, the government's initiative can be expected to succeed. Also, regular monthly meetings chaired by the chief adviser will help ensure proper monitoring of these efforts.

In the past, many anti-money laundering measures have been taken, but due to lack of preparation, reaching the destination was not possible. To succeed in court, the government needs to be technically prepared and gather the appropriate evidence, as there are many challenges involved.

If evidence can be presented showing that a law was violated in the country where the money was laundered, it will create a pathway to recover the money. For instance, to recover laundered money in the UK, it must be proven that British laws were violated in the process of laundering money from Bangladesh and that it was invested in the UK. In this case, proper evidence is crucial.

Under the Mutual Legal Assistance framework, many countries provide support in recovering laundered money. However, it must be noted that each year, the equivalent of one trillion dollars is laundered from one country to another, with only one billion dollars – just 1% of the total laundered amount –being recovered globally.

At this moment, I cannot confirm if any country has previously imposed restrictions on the transfer of laundered assets. However, if it can be shown that the money was laundered in violation of the country's laws, international financial regulations, and UN conventions, such restrictions could be imposed. If the government makes efforts with the appropriate information and evidence, it could lead to success in these cases.