Bangladesh’s interim government has ramped up efforts to recover laundered assets, uncovering significant financial misconduct linked to influential figures. Investigations revealed that a conglomerate connected to the former ruling party, which governed from 2009 to 2024, established 18 shell companies in the British Virgin Islands (BVI) between 2011 and August 2024 without central bank approval. A taskforce source confirmed these companies, used primarily for money laundering, included entities like Canali Logistics Pte Ltd (2011) and Hazel International Pte Ltd (2016), where 70% of shares are held by the chairman and 30% by his wife.
On 17 November 2024, the Chief Adviser announced investigations into 79 of 150 individuals suspected of laundering approximately $17 billion, with $10 billion tied to one individual. Efforts to repatriate funds, particularly from Singapore, face legal and diplomatic challenges. Officials highlight the need for coordination among agencies like the BFIU, ACC, and Bangladesh Bank to ensure successful recovery.
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