CID cracks down on illegal money exchangers in Dhaka

The Criminal Investigation Department (CID) of Bangladesh Police is carrying out raids against money exchange offices across Dhaka, which had been operating without the Bangladesh Bank’s approval.

The raid is continuing till the filing of this report at 8:00pm.

Several teams of CID’s Organised Crime Unit raided such offices in Gulshan, Uttara, Ashkona, and Adabar areas on Tuesday afternoon, CID’s Deputy Inspector General (Organised Crime) Kushum Dawan told The Business Post.

“An operation is going on against the money exchange offices that are not listed with the Bangladesh Bank. On the other hand, the raids are conducted against those who are not selling dollars at fixed prices and facilitating hundi (illegal money transfer from abroad),” he added.

CID’s Inspector Md Moniruzzaman said they detained three people from an illegal money exchange firm in the Gulshan area with foreign currency.

Besides, the CID has collected evidence of illegal transactions, he said.

“We will provide further details after the raid is concluded,” he added.

The CID earlier conducted several raids on various money exchange houses in recent times on the issue of fixing the value of the dollar which had reduced volatility in the forex market.

The latest operation began in the wake of manipulating the dollar market by a certain syndicate and the increase in the amount of hundi, CID officials said.