Together, Transparency International Bangladesh (TIB) and four anti-corruption groups located in the UK have demanded that any illicit assets that Bangladeshis hold abroad be immediately frozen so they cannot be brought back to their nation.
The organizations TI-UK, the UK Anti-Corruption Coalition, the International Lawyers Project, Spotlight on Corruption, and TIB emphasized the significance of promoting active collaboration with the Bangladeshi government in this regard in a joint letter to the UK Secretary of State for Foreign, Commonwealth, and Development Affairs, according to a TIB press release today.
They underlined the significance of cooperating to guarantee that individuals in possession of illicit assets are held responsible and to expedite the restoration of these assets.
“This initiative is viewed as a crucial step towards creating a future for the envisioned ‘New Bangladesh’ that is transparent, accountable, democratic and free from corruption,” said the press release.
It said the money smuggled from Bangladesh to various countries, including the United Kingdom, the United States, Switzerland, EU nations, Australia, Singapore, Malaysia, Hong Kong, and the United Arab Emirates.
TIB Executive Director Dr. Iftekharuzzaman said, “Most of the countries where corrupt money and assets from Bangladesh have been laundered to are among our development, trade and investment partners who are committed to fighting corruption nationally and internationally.”
“Now is the time for them to take such commitments to a new level of effectiveness by taking immediate necessary actions to freeze illegal assets owned by all Bangladeshi individuals and entities in their respective jurisdictions,” he added.
He continued that, “We particularly call upon the governments of the UK, the USA, Switzerland, Canada, Australia, the EU countries as well as Singapore, Malaysia, Hong Kong and the UAE to freeze such assets as the step to repatriate the same to Bangladesh and hold the perpetrators to account.”
Susan Hawley, Executive Director of Spotlight on Corruption, said, “The UK really needs to put its money where its mouth is when it comes to helping developing countries like Bangladesh track down stolen assets that the UK is harbouring, and to ensuring accountability of corrupt actors.”
“By bolstering anti-corruption efforts at this crucial moment for Bangladesh, the UK could play a decisive role in ensuring the country achieve the secure democratic and inclusive future that the UK has promised to help it achieve,” said Susan Hawlay.
Duncan Hames, Director of Policy at Transparency International UK, said, “We know that Bangladeshi politicians with unexplained wealth and members of the business elite accused of wrongdoing have significant asset portfolios here in the UK and abroad.”
“The British government should now work closely with allies around the world and civil society within Bangladesh to introduce a sanctions regime which freezes the assets of these corrupt figures and their enablers, ensuring they don’t enjoy their ill-gotten gains,” he added.
The letter dated August 30, addressed to the UK Secretary of State, emphasized that Bangladesh, a country undergoing transition, is discovering widespread corruption perpetrated by the benefactors of the overthrown authoritarian administration.
The smuggled assets that these recipients possess legitimately belong to the people of Bangladesh.
To aid in the reconstruction of a “New Bangladesh,” it is imperative that these hidden resources from various nations around the world be swiftly found and retrieved.
This will contribute to enhancing the nation’s accountability, democracy, inclusion, and transparency. The letter asks the UK Secretary of State to assist in this endeavor.
The letter urges the UK government to promptly address three crucial matters, in line with their commitment to support the Interim Government of Bangladesh.
First, the five anti-corruption organizations (TI-UK, the UK Anti-Corruption Coalition, the International Lawyers Project, Spotlight on Corruption, and TIB) request that the UK’s National Crime Agency proactively investigate whether money laundered by Bangladeshi individuals or companies is present in the UK.
They implore the organization to take all required actions, such as freezing these assets, in order to start the process of returning the money to Bangladesh.
Second, they want the UK government to support them in reorganizing important Bangladeshi establishments like the National Board of Revenue, the Office of the Attorney General, the Financial Intelligence Unit, the Anti-Corruption Commission, and law enforcement organizations.
They also ask for assistance in enhancing the skills of forensic attorneys and accountants so that these organizations can quickly locate and retrieve money that has been laundered.
Third, the letter urges collaboration and coordination with the US, Canada, Australia, the EU, Singapore, Malaysia, Hong Kong, and the United Arab Emirates (especially Dubai), which are the nations to which Bangladeshi cash have been trafficked.
It underscores the necessity of accelerating the process of repatriating these assets and guaranteeing accountability for all parties involved with the laundered money.
