JS body for enforcing Money Laundering Prevention Act

The Jatiya Sangsad panel has suggested enforcement of the ‘Money Laundering Prevention Act, 2012’ to tackle the illegal money transfer to different countries. It suggested necessary measures to strengthen the capacity of Anti Corruption Commission (ACC) and raise the rule of National Board of Revenue (NBR) to prevent the money laundering. Parliamentary Standing Committee on Ministry of Finance also stressed on enhancing coordination among different units of government includes Bangladesh Bank, ACC, NBR and law enforcing agencies. Committee chairman M Abdur Razzaque chaired the meeting, held on Wednesday. Committee members finance minister Abul Maal Abdul Muhith, M Abdul Wadud, Nazmul Hasan, Farhad Hossain, Mostafizur Rahman Chowdhury, M Shawkat Chowdhury and Akhter Jahan were present. Razzaque said a large amount of money is being transferred outside the country illegally as a good number of Bangladeshis are building second home in 8/10 countries globally. So, necessary action is needed to be taken after identifying the way of money laundering, he added. The committee also passed recommendation to bring the Bangladeshi citizens including industrialists and businessmen who have illegal home and money abroad awarding punishment by formulating a list through the Financial Intelligence Unit of the BB, according to BSS.