The Bangladesh Financial Intelligence Unit (BFIU) has frozen the bank accounts of Saiful Alam, chairman of S Alam Group, and several associates due to ongoing allegations of corruption, asset accumulation, and money laundering. Although BFIU requested account details on August 8, there was a significant delay in action, leading to suspicions of internal obstruction, particularly involving former BFIU deputy director Rafikul Islam. During this delay, substantial funds were withdrawn from these accounts, heightening concerns. The BFIU has now frozen transactions for Saiful Alam, Mohammed Abdullah Hasan, Osman Goni, Abdus Samad, Shahana Ferdous, and Badrun Nessa Alam under the Money Laundering Prevention Act of 2019, and has ordered banks to provide all relevant documentation.
Additionally, accounts belonging to Nabil Group chairman Jahan Box Mondol and managing director Aminul Islam have also been frozen. Nabil Group is suspected of having close ties with S Alam Group and allegedly withdrew significant loans under anonymous names. These actions follow major political changes, including Prime Minister Sheikh Hasina’s resignation and the dissolution of the boards of eight banks controlled by S Alam Group. Allegations suggest that the group withdrew approximately Tk 2 lakh crore from the banking system, much of which is suspected to have been laundered abroad.
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