Bangladesh
Money Laundering Tk 148 cr smuggled to Dubai under guise of garment export
Dhaka, July 24: Exporting companies are laundering money under the guise of exporting ready-made garments. The Directorate of Customs Intelligence and Investigation has found the truth of such smuggling of Tk 148 crore in the last two years. Complaint against 19 organizations. All the money was laundered to Dubai, United Arab Emirates. The Directorate of Customs Intelligence and Investigation has already prepared a case against the institutions under the Money Laundering Act.
According to the sources of Directorate of Customs Intelligence and Investigation, customs detectives found the fact of smuggling of Tk 147 crore 67 lakh. Among them there are 17 companies in Dhaka and two in Chittagong. Besides, C&F agents of Customs are working as accomplices in these money laundering activities.
Additional Director General of Customs Intelligence and Investigation Directorate Chittagong Bashir Ahmed said that 17 companies in Dhaka and two companies in Chittagong had smuggled Tk 147 crore 67 lakh under the guise of exporting clothes made in Dubai. Companies have exported goods to Dubai by understating the export price. Through this, the money of the displayed value comes to the country through the banking channel, but the rest of the money is kept in Dubai. The investigation is almost at an end. A case will soon be filed against these 19 companies under the Criminal Money Laundering Act.
Another customs intelligence officer, who did not wish to be named, said that mainly domestic companies have their own agents in Dubai. Agents themselves open establishments and import products from Bangladesh. Here, most of the times the importer and exporter are the same person or a syndicate. They have smuggled their own money or third party's money abroad under the guise of exporting goods. Now further investigation can unravel the issues.
Not only exporters, banking institutions, C&F institutions and customs people may also be involved, he said.
