The Bangladesh Financial Intelligence Unit (BFIU) emphasizes the need for formal agreements to recover stolen assets from various countries, stating that these arrangements are vital for establishing strong legal frameworks. A list of ten major destinations for capital flight, including the USA, UK, Canada, and Dubai, has been submitted to the Ministry of Foreign Affairs. The BFIU has called for the government to sign Mutual Legal Assistance agreements and participate in global networks to expedite asset repatriation. Experts highlight the challenges in tracing stolen funds, as money launderers often use shell companies to obscure their activities. The Global Common Reporting Standard may aid in this effort, enabling Bangladesh to identify investments linked to siphoned funds. The current measures are deemed insufficient, necessitating bilateral and multilateral agreements for effective asset recovery. Intelligence officials advocate for cooperation among governments and recommend enhancing mutual administrative assistance in tax matters. Despite some positive steps, the complexities of recovering stolen assets remain evident, illustrated by ongoing difficulties with past financial crimes.
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