10 Banks in Crisis, culprits remain out of reach
10 Banks in Crisis, culprits remain out of reach

The banking sector in Bangladesh is grappling with severe turmoil, plagued by a series of irregularities, including loan scams, defaults, and currency laundering. Among the institutions most affected, 10 banks are in particularly fragile conditions, with the culprits behind these financial crimes...

Court imposes travel ban on Sayeed Khokon, his family
Court imposes travel ban on Sayeed Khokon, his family

The Dhaka Metropolitan Sessions Court has imposed a travel ban on former Dhaka South City Corporation Mayor Mohammad Sayeed Khokon, along with his mother Shahana Hanif, wife Farhana Sayeed, and brother Javed Ahmed. The decision follows a request by the Anti-Corruption Commission (ACC) during a...

Tarique's sentence in money laundering case suspended
Tarique's sentence in money laundering case suspended

The Appellate Division suspended the 7-year prison sentence of BNPs Acting Chairman Tarique Rahmanin a money laundering case. The Appellate Division, led by the Chief Justice, delivered the order On Tuesday. Advocate Sheikh Zakir Hossain and Barrister Kaiser Kamal did the hearing of the case...

Ex-Teknaf OC Pradeep's wife granted bail by HC
Ex-Teknaf OC Pradeep's wife granted bail by HC

The High Court has granted bail to Chumki Karan, wife of dismissed Teknaf Police Station Officer-in-Charge (OC) Pradeep Kumar Das, who was convicted in an Anti-Corruption Commission (ACC) case. The bench, comprising Justice AKM Asaduzzaman and Justice Syed Enayet Hossain, issued the bail order on...

BDT 2.34 trillion stashed in the pockets of bank directors
BDT 2.34 trillion stashed in the pockets of bank directors

The banking sector of the country suffered the most during the tenure of the previous government, a fact highlighted in the White Paper Committees report. Allegations have been made regarding the involvement of several bank chairmen in undermining the sector, including claims of collusion....

Money launderers thrived under Sheikh family’s backing
Money launderers thrived under Sheikh family’s backing

The government is now taking a tough stance against individuals who have laundered money abroad funds earned through the hard work and sweat of ordinary Bangladeshis. In response, the government, along with authorized agencies investigating and probing money laundering, has been actively working...

Leveraging Yunus's reputation to recover laundered funds
Leveraging Yunus's reputation to recover laundered funds

The first thing I would like to say about money laundering is that there is no opportunity to take large sums of money out of Bangladesh. I know this firsthand from my experience at the Bangladesh Bank. While I am aware of what I have observed as a consultant or economist, the individuals directly...

Entrepreneurs targeted by resentment
Entrepreneurs targeted by resentment

The Bangladesh Bank or the Financial Intelligence Unit (BFIU) cannot appoint a receiver to any business entity on its own. If a receiver needs to be appointed, it requires a lengthy process. However, in recent days, several media outlets have reported that receivers have been appointed to 10...

Thousands of crore taka laundered through internet gateway  licenses
Thousands of crore taka laundered through internet gateway licenses

Thousands of crore taka have been laundered through licensing scheme for international communication services, say officials from the Anti-Corruption Commission (ACC). The licenses, issued in 2012 by the Bangladesh Telecommunication Regulatory Commission (BTRC), were granted based on political...

US Secret Service to train Bangladeshi officials in combating money laundering and terror financing
US Secret Service to train Bangladeshi officials in combating money laundering and terror financing

The United States Secret Service will train the officials of six Bangladeshi agencies to enhance their ability to tackle money laundering and terror financing. Around 60 officials of the Bangladesh Financial Intelligence Unit (BFIU), four units of Bangladesh Police including the Criminal...

Beximco's theft of over 1000 crore taka from five banks
Beximco's theft of over 1000 crore taka from five banks

Serious allegations have emerged against two companies of the Beximco Group Beximco Limited and Bextex Garments. They are accused of embezzling a staggering one thousand crore taka through transactions among five banks. In 2011, these two companies secured loan agreements totaling six hundred...

Looting of Tk thousands of crore using foreign passports
Looting of Tk thousands of crore using foreign passports

Crime Investigation Department (CID) and Anti-Corruption Commission (ACC) has filed separate cases on the charge of looting of Tk thousands crore against S Alam group owner Saiful Alam (S Alam), Padma Bank chairman Chowdhury Nafeez Sarafat, Bangladesh Security and Exchange Commission (BSEC)...

Bangladesh, US discuss collaboration to tackle money laundering
Bangladesh, US discuss collaboration to tackle money laundering

Bangladesh and the Unites States have discussed strengthening collaboration to counter corruption, tackle money laundering, and recover stolen assets, state news agency BSS reported. The discussion took place at a meeting between Bangladesh Foreign Secretary Md Jashim Uddin and US Acting...