Hundi traders laundered Tk 75,000cr from Bangladesh last year

CID Chief Additional IGP Mohammad Ali Mia addressies a press conference at CID Headquarters at Malibagh in the capital on Thursday.

There are about 5,000 illegal agents of Mobile Financial Services (MFSs) across Bangladesh who have laundered about Tk 75,000 crore in the last year.

The agents laundered money through hundi and as a result Bangladesh has been deprived of remittances equivalent to about Tk 25,000 crore – which is about $7.8 billion dollars, for the past four months, said the Criminal Investigation Department (CID) of the police.

The CID chief said the remittance earned by the expatriates were not coming to the country, instead, they were being smuggled.

He said the illegal agents of mobile banking were divided into three groups for illegal hundi.

CID’s Financial Crime and Cyber Crime units arrested 16 people from Dhaka and Chittagong on Wednesday.

CID’s Financial Crime and Cyber Crime units arrested 16 people from Dhaka and Chittagong on Wednesday.

A first group abroad collects dollars from expatriates and provides dollars to money launderers. The Bangladeshi agents or the second group provides the money in local currency to MFS agents.

Later, the third group or MFS agents send the money to MFS numbers of the migrants’ realtives.

The owners of black money have been smuggling crores out of the country in this way thereby making Bangladesh lose remittances.

CID chief Mohammad Ali said, “We found this cycle while investigating the reason for the sudden increase in the price of the dollar in the country. The incomes of expatriates do not come to the country as dollars instead the gang has been smuggling it, making Bangladesh suffer.”

The arrested were identified as Akhter Hossain, 40, Didarul Alam Sumon, 34, Khorshed Alam Imon, 22, Ruman Kanti Das Joy, 34, Rashed Monzur Firoz, 45, Md Hossainul Kabir, 35, Nabin Ullah, 37, Md Zunaidul Huque, 30, Adibur Rahman, 25, Asif Newaz, 27, Farhad Hossain, 25, Abdul Basir, 27, Mahbubur Rahman Selim, 50, Abdul Awal Sohag, 36, Fazle Rabbi, 27 and Shamima Akter, 32.

Legal action will be taken against those involved in the money laundering scheme through hundi business, the CID chief added.

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