Malaysia Financial Intelligence Unit (MFIU) has sent the Cash Transaction Report (CTR) on 14 Bangladeshis out of total 50 who have invested in 'Malaysia My Second Home' project through money laundering.
MFIU has recently sent the report to the finance ministry of Bangladesh and suggested Mutual Legal Assistance procedure to collect the deeds and documents on investment in My Second Home project and other purchase related documents including flat/land/car. MFIU has also informed the Anti-Corruption Commission (ACC) about it.
The MoF informed the parliamentary standing committee on finance ministry about the Malaysian report. The CTR has also been sent to the anti-graft watchdog.
MFIU has claimed that they don't have any information about 36 other Bangladeshis.
As many as 32 cases related to flat/car or money laundering through any other way in Singapore, the UK, the USA, Hong Kong, and Canada are under investigation by the ACC.
Some 189 Bangladeshis availed of the benefit of Malaysia My Second Home (MM2H) programme during the period between January and November in 2016 while the figure was 215 in 2015.
At the end of November 2016, the total number of Bangladeshis who made investments to avail of the benefit since 2003, stood at 3,399 which is 10.7 per cent. Bangladesh ranks 3rd in investment in Malaysia second home project.
In a rough estimation, every applicant has to transfer at least $ 82,000 or around Tk 6.4 million to avail of the second home benefit. Thus, at least $ 278 million has illicitly been transferred to Malaysia under the programme.
According to Global Financial Integrity (GFI) estimate, illicit financial flow (IFF) or outflow from Bangladesh stood at $ 9.66 billion (Tk 740 billion) in 2013 which was $ 7.22 billion (Tk 553.13 billion) in 2012. No update for 2014 or later years are available.
Besides, National Board of Revenue (NBR) has engaged a lawyer in Los Angeles in the USA to bring back the money to the tune of US$ 0.639 million siphoned off by a taxpayer of tax zone-2 of Chittagong in 2012.
The revenue board has also sent a letter to Justice Department of the USA through the office of the attorney general, seeking Mutual Legal Assistance, 2012. The NBR will primarily get US$ 0.150 million through settlement as Justice Department delivered verdict to freeze the amount.
Central Intelligence Cell of NBR filed a case against the said taxpayer with Ramna Model Police Station on October 02, 2016 under Money Laundering Prevention Act, 2012.
Besides, another case has been filed with the senior metropolitan special judge of Chittagong on charge of tax evasion and concealment of investment information. Charge has been framed against the accused.