Bangladesh

Bring down capital flight

Jul 10, 2017
With a 19% increase in illegal money laundering, we must ask: Why has this continued?
Every year, more and more money is being illegally siphoned off to other countries, being kept in offshore accounts.
 
With a 19% increase in illegal money laundering, we must ask: Why has this continued? Much of the problem seems to stem from our anti-money laundering act, which has remained woefully inadequate in deterring any further capital flight.
 
The government must reform the existing laws if they wish to prevent this in the future. Otherwise, it is the economy that will keep suffering, and the Bangladeshi people with it.
 
The authorities must also crack down hard on the unscrupulous businesspeople involved in these ventures, and ensure this is a practice that does not persist.
 
Dhaka Tribune, July 10, 2017

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