[ap-intact] INFO: Suspected money laundering under cover of doubtful imports in Bangladesh

[Facilitator's note: AP-INTACT shares this information as part of a special series this week on illicit financial flows.]

"While the [Bangladesh] economy is trapped and the export-import business stumbles due to political uncertainty, surprisingly, the imports of capital machinery and food grains increased by 28.54 percent and 148.63 percent respectively in the first half (HI) of the current financial…compared with the corresponding period of the FY14. …The huge import payments for industrial machinery raised a suspicion that a chunk of money might have been laundered abroad. … Economists have called the Central Bank and National Board of Revenue to start investigations to detect if there were over-invoicing through the import process."

Read the story in The Nation. http://thedailynewnation.com/news/42015/money-laundering-under-cover-of-doubtful-imports.html

See also:

"Improving operations of the ACC." Editorial, The Financial Express. http://www.thefinancialexpress-bd.com/2015/01/16/76134

Popular posts from this blog

The Pacific - Nepal - Eastern Europe & Central Asia

Middle East & North Africa - Ukraine - Sri Lanka

Global - Sub-Saharan Africa - Turkey & Syria