Staff Reporter :
Transparency International Bangladesh (TIB) has welcomed the United Kingdom’s National Crime Agency (NCA) for taking decisive action against close associates and beneficiaries of Bangladesh’s former authoritarian regime in connection with money laundering and illicit wealth.
In a statement issued on Saturday, the anti-corruption watchdog praised the NCA’s freezing of assets worth nearly £90 million as a significant first step in tackling the flow of illicit funds from Bangladesh to the UK. TIB expressed hope that this move would lead to strengthened mutual legal assistance between the two countries, expedite investigations, and facilitate the recovery and repatriation of laundered wealth.
“This should not be seen as an isolated incident-the frozen property represents only the tip of the iceberg,” said Dr Iftekharuzzaman, Executive Director of TIB. “There are many more individuals who, having benefited under the former regime, have laundered vast sums abroad. Similar legal actions must be pursued in each case.”
Dr Iftekharuzzaman urged UK authorities to continue cooperating with Bangladesh through established legal frameworks and mutual legal assistance agreements to identify and recover stolen assets. He also called on other countries that have served as destinations for illicit wealth-including the United States, Switzerland, Canada, Australia, Singapore, Hong Kong, Malaysia, and the United Arab Emirates (particularly Dubai)-to follow the UK’s example.
“Over the past few decades, these jurisdictions have become preferred havens for illicit Bangladeshi wealth. We call on their respective authorities to take necessary steps-within their own legal systems and in cooperation with Bangladesh-to identify, seize, and repatriate illegally acquired assets,” he said.
TIB also urged the Government of Bangladesh to make proactive use of international legal mechanisms, including mutual legal assistance and other expert and specialised cooperation tools, to pursue accountability for money laundering offences. It emphasised the importance of robust international collaboration to ensure that the laundered wealth is not only traced and seized, but also returned swiftly to Bangladesh.
The organisation reiterated the need for destination countries to engage more actively in asset recovery efforts, not only as part of their legal responsibilities but also to promote global financial integrity and justice. By doing so, TIB said, these countries would help curb illicit financial flows and support developing nations in reclaiming misappropriated public resources.
