Task force reconstituted to bring back smuggled money

The government has reconstituted a 14-member task force with the goal of bringing back money smuggled abroad. The task force will work closely with foreign law enforcement agencies and collect information about money laundered abroad.

The committee will use the Money Laundering Prevention Act 2012 to repatriate the smuggled assets, said a notification issued by the Ministry of Finance on Sunday.

The Attorney General of Bangladesh AM Amin Uddin has been made the convener of the task force.

The Bangladesh Financial Intelligence Unit (BFIU) will offer this high-powered committee all possible assistance, added the notification.

According to sources in the ministry, the task force committee’s main goal will be to figure out where Bangladeshi money is being smuggled out of the country. Many people have smuggled money out of the country that has been laundered through corruption and irregularities.