16 including gang leader arrested for money laundering through MFS

Police have arrested 16 members of a gang including the mastermind behind money laundering worth billions through mobile financial services.

They used to run a digital hundi racket to bypass legal banking system. 

Chief of Criminal Investigation Division of police Mohammad Ali Mia confirmed the matter on Wednesday (9 September). 

A press briefing will be held regarding the arrest on Thursday at CID Headquarters in Malibag, he added.

CID investigators told TBS that a decrease in remittances sent by expatriates through digital hundi came up in the preliminary investigation of the Financial Intelligence Unit (BFIU).

Based on the information of BFIU, the members of the Hundi gang were identified and arrested.

According to the BFIU report, despite the increase in labourer export abroad, remittances through banking channels are decreasing.

Again, even after discouraging foreign travel in many ways, there has been a huge shortage of cash dollars in the country's market.

In the financial year 2021-22, expatriates sent money equivalent to $2,1.03 billion dollars through banking channels, which is $3.75 billion (15%) less than the previous year.