Kazi Zahidul Hasan :
The government has formed a ‘special task force’ to expedite recovery of the $81 million that was stolen from Bangladesh Bank’s account at the Federal Reserve Bank at New York and transferred to Rizal Commercial Banking Corporation (RCBC) of Philippines.
The Banks and Financial Institutions Division (BFID) issued a circular signed by Deputy Secretary Md Rezwanul Huda in this regard on Wednesday. BFID Secretary Md Eunusur Rahman has been made the convener of the task force, while one official each from the Finance Ministry, Foreign Ministry,
Bangladesh Financial Intelligence Unit, Anti-Corruption Commission, the Attorney General’s Office and the National Board of Revenue has been included as the members.
The task force has also been authorized to include qualified persons suitable for the job if necessary.
“The task force has been assigned to speed up retrieve of the Bangladesh Bank’s heist fund that illegally transferred to five fictitious accounts of RCBC’s Jupiter Branch,” a senior Finance Ministry official told The New Nation on Wednesday, requesting not to be named.
He added, a number of local and foreign agencies are investigating into the heist, but the taskforce will only work to bring back the fund from Philippines.
The official further said that it will closely work with Philippines central bank and Anti-Money Laundering Council (AMLC) and take all necessary measures to bring back the laundered fund.
Kam Sin Wong, a Chinese junket operator known in the Philippines as Kim Wong, recently told the Philippines Senate hearing that the $81 million laundered fund was remitted by two Chinese businessmen, Gao Shuhua and Ding Zhize.
The Senate hearing revealed that the $81 million was remitted to five accounts created with fictitious names at the branch of the RCBC on February 5 and then consolidated to the casinos and junket operators through Philrem, a money changer company in Philippines.
Wong said, $63 million of the total $81 million went to the Solaire and Midas casinos, while the remaining $17 million is still with the Philrem.
“The mystery behind the money-laundering was revealed at the Senate hearing. We are hopeful that we should get back our money,” said the finance ministry official adding, “The process of bringing back the money will be expedited with the formation of the task force”.
Earlier, experts cautioned that the recovery of the stolen funds might take three to ten years unless the government was formed a special task force to expedite the process.
The government has formed a ‘special task force’ to expedite recovery of the $81 million that was stolen from Bangladesh Bank’s account at the Federal Reserve Bank at New York and transferred to Rizal Commercial Banking Corporation (RCBC) of Philippines.
The Banks and Financial Institutions Division (BFID) issued a circular signed by Deputy Secretary Md Rezwanul Huda in this regard on Wednesday. BFID Secretary Md Eunusur Rahman has been made the convener of the task force, while one official each from the Finance Ministry, Foreign Ministry,
Bangladesh Financial Intelligence Unit, Anti-Corruption Commission, the Attorney General’s Office and the National Board of Revenue has been included as the members.
The task force has also been authorized to include qualified persons suitable for the job if necessary.
“The task force has been assigned to speed up retrieve of the Bangladesh Bank’s heist fund that illegally transferred to five fictitious accounts of RCBC’s Jupiter Branch,” a senior Finance Ministry official told The New Nation on Wednesday, requesting not to be named.
He added, a number of local and foreign agencies are investigating into the heist, but the taskforce will only work to bring back the fund from Philippines.
The official further said that it will closely work with Philippines central bank and Anti-Money Laundering Council (AMLC) and take all necessary measures to bring back the laundered fund.
Kam Sin Wong, a Chinese junket operator known in the Philippines as Kim Wong, recently told the Philippines Senate hearing that the $81 million laundered fund was remitted by two Chinese businessmen, Gao Shuhua and Ding Zhize.
The Senate hearing revealed that the $81 million was remitted to five accounts created with fictitious names at the branch of the RCBC on February 5 and then consolidated to the casinos and junket operators through Philrem, a money changer company in Philippines.
Wong said, $63 million of the total $81 million went to the Solaire and Midas casinos, while the remaining $17 million is still with the Philrem.
“The mystery behind the money-laundering was revealed at the Senate hearing. We are hopeful that we should get back our money,” said the finance ministry official adding, “The process of bringing back the money will be expedited with the formation of the task force”.
Earlier, experts cautioned that the recovery of the stolen funds might take three to ten years unless the government was formed a special task force to expedite the process.
