Featured Bangladesh

Bangladesh dirty money fight complicated by coronavirus twist

While Bangladesh is depending on global lenders for aid to weather coronavirus-induced health and economic crises, its medical administration remains unusually generous to suppliers of medical equipment and services. The Directorate General of Health Services, the country’s national health agency, quotes prices paid for procurement of medical personnel safety goggles,… Read More

Kuwait arrests Bangladesh MP on charges of human trafficking, money laundering

Due to an alleged involvement in human trafficking and money laundering, Kuwait officials have confirmed that a Bangladeshi lawmaker has been arrested. Kuwaiti Public Prosecution ordered remanding MP, Mohammad Shahid Islam, pending investigation, after being referred by the residence investigation department, which arrested him in the Musharraf area on Saturday. Read More

Used to impunity, Bangladesh elite face corruption crackdown

AP — As gamblers called out bets around craps and roulette tables at a sports club in Bangladesh’s capital, dozens of black-clad security forces burst inside. Gamblers were ordered to the floor as police and members of Bangladesh’s Rapid Action Battalion, which normally handles major counterterrorism operations, cracked open iron… Read More
25th September 2019
The Rizal Commercial Banking Corporation (RCBC) was accused Tuesday of suppressing evidence in the money laundering case against some of its current and former officials. A Department of Justice (DOJ) prosecutor and legal officers of the Anti-Money Laundering Council (AMLC) Secretariat made the accusation, a copy of the motion obtained… Read More
13th March 2019
A Philippine bank has filed a lawsuit accusing Bangladesh’s central bank of defamation, hitting back at what it says are baseless claims of its complicity in the world’s biggest cyber heist. In February 2016, criminals used fraudulent orders on the SWIFT payments system to steal $81 million from the Bangladesh… Read More
4th February 2019
International payments network SWIFT said on Saturday it had signed an agreement with Bangladesh’s central bank to help it rebuild its infrastructure after hackers used it to steal $81 million in 2016 in the world’s biggest cyber heist. Unidentified hackers, suspected to be from North Korea, carried out the heist… Read More
31st January 2019
Bangladesh will file a lawsuit in a U.S. court on Wednesday against Philippine bank Rizal Commercial Banking Corp (RCBC) over its role in one of the world’s biggest cyber-heists, the Bangladesh central bank governor said. In February 2016, unknown criminals used fraudulent orders on the SWIFT payments system to steal… Read More
12th December 2018
A criminal gang, lead by a 42-year old law student, falsely claimed £13 million in tax repayments over a scam in which they facilitated 900 bogus visas and laundered millions. The group set up 79 bogus companies and created fake documentation which was used by Bangladeshi nationals in fraudulent visa… Read More
5th December 2018
Britain’s Financial Conduct Authority (FCA) has fined the former boss of a Bangladeshi-headquartered London bank £76,400 for breaching anti-money laundering (AML) standards, it has been revealed, two years after it penalised the bank with a £3 million penalty over financial crime control failures. On Tuesday, the FCA published its Decision… Read More
8th February 2018
Former Bangladesh Prime Minister and opposition leader Khaleda Zia was jailed for five years for corruption on Thursday as thousands of supporters took to the streets of the capital to protest her innocence. Khaleda, her son and aides were convicted of stealing 21 million taka ($253,000) in foreign donations received… Read More
29th December 2017
Bangladesh Bank has banned the use of Bitcoin, a virtual cryptocurrency, in Bangladesh by issuing a circular on its website. The circular read that Bitcoin is not an authorised and legal currency in any other country in the world. “Transaction with this currency may cause a violation of the existing… Read More
18th September 2017
Senate President Aquilino “Koko” Pimentel III called on concerned government agencies to step up their efforts to run after those who had a hand in stealing $81 million from the Bangladesh bank account. Pimentel underscored the swift recovery of the stolen money in the $81-million cyberheist last year especially that… Read More
5th September 2017
Bangladesh’s central bank will send a team of officials to the Philippines on Tuesday to push for the recovery of more of the $81 million stolen from its account at the New York Federal Reserve last year and routed through a bank in Manila. Bangladesh Bank has been able to… Read More