Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Monday, December 11, 2017 03:40:07 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Under MM2H project

Multi million dollar siphoned off BD to Malaysia

By
18th-Mar-2017       
Comments
Share your thought
Post a comment »
Read all () »

Badrul Ahsan :
At least US$278 million was siphoned off from Bangladesh to Malaysia till November 2016 under the 'Malaysia My Second Home' (MM2H) project through money laundering, sources said.
According to official data of Malaysia Financial Intelligence Unit (MFIU), at the end of November 2016, the total number of Bangladeshis, who made investments to avail 'second Home' benefit since 2003, stood at 3,399. Bangladesh ranks 3rd in investment in Malaysia second home project.
In a rough estimation, every applicant has to transfer at least $ 82,000 or about Tk 6.4 million to avail of the second home benefit. Thus, at least $ 278 million has illicitly been transferred to Malaysia under the programme. But according to Global Financial Integrity (GFI) estimate, illicit financial flow (IFF) or outflow from Bangladesh stood at $ 9.66 billion (Tk 740 billion) in 2013 which was $ 7.22 billion (Tk 553.13 billion) in 2012. No update for 2014 or later years is available. "We are investigating cases of some major money laundering, later, we will include other medium and small violators under our scanner also," a high official at the ACC told The New Nation on Thursday preferring anonymity.
"Although bringing back siphoned off money is a very tough job, we are hopeful about our success with the help of international money laundering laws and mutual discussion with the counterparts," he added.
However, although no activity of previous government was seen before bringing back the money home, the present management of Anti-Corruption Commission (ACC) has taken a move to take legal steps against the unlawful activity.
As part of the initiative, the Anti-Corruption watchdog wrote a letter to the MFIU for Mutual Legal Assistance and to provide detail information of some 50 big investments.
In response to the request, MFIU has sent the Cash Transaction Report (CTR) on 14 Bangladeshis out of total 50 who have invested largely in 'Malaysia My Second Home' project through money laundering.
MFIU has recently sent the report to the finance ministry of Bangladesh and suggested Mutual Legal Assistance procedure to collect the deeds and documents on investment in My Second Home project and other purchase related documents including flat/land/car.
MFIU has also informed the Anti-Corruption Commission (ACC) about it, claiming that they don't have any information about 36 other Bangladeshis.
Meanwhile as many as 32 cases related to flat/car or money laundering through any other way in Singapore, the UK, the USA, Hong Kong, and Canada are under investigation by the ACC. Besides, National Board of Revenue (NBR) has engaged a lawyer in Los Angeles in the USA to bring back the money to the tune of US$ 0.639 million siphoned off by a taxpayer of Tax Zone-2 of Chittagong in 2012.
The Revenue Board has also sent a letter to Justice Department of the USA through the office of the attorney general, seeking Mutual Legal Assistance, 2012. The NBR will primarily get US$ 0.150 million through settlement as Justice Department delivered verdict to freeze the amount.

Tariff
Add Rate

News Archive

Inside The New Nation

International »

Chinese billionaire-in-exile wants regime change in Beijing


AFP, New York :Billionaire Guo Wengui, who is seeking asylum in the United States after accusing officials in his native China of corruption, wants "a change of the regime" in Beijing and the introduction of democracy in the world's most populous country."I want to try and to have rule of ...

Editorial »

Aman harvest has no effect on rice market


PASSING the Aman harvest, rice price has not come down as government leaders earlier said and rather gone up to the dismay of the common people all over the country. Though farmers are happy with higher price; although they have suffered production loss at many places due to late receding ...

Cricket »

Players of Comilla Victorians celebrating after dismissal of Chris Gayle of Rangpur Riders during the Qualifier-2 match of the AKS Bangladesh Premier League (BPL) Twenty20 Cricket between Comilla Victorians and Rangpur Riders at the Sher-e-Bangla National Cricket Stadium in the city's Mirpur on Sunday.


Sports »

Members of Rongdhanu RDS, the runners-up of the Hedayet Hossain Memorial Night Cricket Tournament pose for a photo session at Bangladesh Ground in Old Dhaka recently.


Entertainment »

Gauhar makes to sexiest Asian list for fourth consecutive time


For the fourth consecutive year, Bollywood actress and model Gauhar Khan has been voted to the top 10 list of ‘50 Sexiest Asian Women list’ in the world. It is an annual UK poll, which has been released in London recently. The actress, who is known for her choice of ...

City »

Convenor of Nagorik Oikya Mahmudur Rahman Manna speaking at a discussion organised by 'Mayer Dak, a social organisation at the Jatiya Press Club on Sunday with a call to bring back forced disappeared people to their mothers' laps.


International »

Ex-Fox news anchor Huddy claims Trump kissed her


Huff Post :A former Fox News anchorwoman who accused Bill O'Reilly of sexually harassing her in 2011 is now claiming that Donald Trump kissed her on the lips in an elevator.Juliet Huddy said Thursday morning on the "Mornin!!! With Bill Schulz" podcast (which has a paywall) that it happened around ...

Editorial »

Dust pollution takes toll in cities’ air


PRESENCE of dust and pollution in the air of our cities has reached alarming levels. It's happening mainly due to chaotic construction works, poor management and protracted traffic jams. According to Air Quality Index Report of the Department of Environment's (DoE) "Clean Air and Sustainable Project" earlier this month, air ...

Sports »

Chanchal emerges unbeaten champion in Blitz Chess Championship


BSS, Dhaka  :Chanchal Kumar Ghosh emerged as unbeaten champion in the Blitz Chess Championship with 6.5 points after the 7th round game on Friday at E Commerce Club hall room in Uttara. Five players finished in second to sixth position with 5.5 points after the tie breaking system. They are ...

Sports »

First-place Nao Kodaira (center) of Japan stands with second-place Lee Sang-hwa (left) of South Korea and third-place Arisa Go (right) of Japan after the women's 500 meters at a World Cup speedskating event Friday in Kearns, Utah.


Entertainment »

Akshay to back out of Gulshan Kumar's biopic?


 Akshay Kumar, who has films like Padman and 2.0 lined up for 2018, has created a stir after rumors of him stepping out of the film titled Mogul came to the forefront. Mogul is a biopic on the creator of T-series, Gulshan Kumar. According to the rumors, Akshay Kumar and ...

City »

BNP Secretary General Mirza Fakhrul Islam Alamgir, among others, at a discussion organised on the occasion of 10th founding anniversary of Bangladesh Kalyan Party at the Jatiya Press Club on Saturday.


Editorial »

Mysterious theft of fertiliser from Govt depots


DESPITE fertile land loss, inclement weather and depleting irrigation water, Bangladesh's agriculture keeps contributing a fifth of the GDP each year. Along with other factors, government's policy support in the form of fertiliser subsidy plays a big part here. But misappropriation of the key agro input such as fertiliser by ...

City »

`National Committee for the Implementation of Prime Minister`s Approved Gazetted Salaries` formed a human chain in front of the Jatiya Press Club on Friday to meet its demands.


.

Entertainment »

Are Virat and Anushka getting hitched?


Over the past few days, there are some reports doing the rounds that ace cricketer Virat Kohli and Bollywood starlet Anushka Sharma are getting married. According to these reports, both these love-birds will tie the knot in Italy.  The manager of Anushka has already slammed these reports by saying these ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news