report in Dhaka Tribune, Nov 16, 2022The Bangladesh Bank has found cases of money laundering as it uncovered trade-based under and over-invoicing during a special audit. Some entities inflated their price at the range of 20-200% than the actual cost of the products under a method called over-invoicing, said GM Abul Kalam Azad, spokesperson of the Bangladesh Bank, at a press briefing on Monday. Over-invoicing takes place when exporters submit an inflated invoice to the…
Posts tagged as “money laundering”
by Kamran Yousaf in The Express Tribune, Oct 21, 2022ISLAMABAD:The Financial Action Task Force (FATF), a global money laundering and terrorism financing watchdog, is set to take up removal of Pakistan from a list of countries under “increased monitoring” when its plenary session will conclude in Paris on Friday. In a meeting in June, the FATF said it was keeping Pakistan on the list — also known as the ‘grey list’ — but said it…
Bangladesh is once again in political turmoil. Main Opposition leader and former prime minister, Khaleda Zia has started a campaign demanding mid-term election saying that the present Awami League (AL) led Grand Alliance government of her bitter rival Sheik Hasina has failed the people. She raised this demand as soon as the High Court dismissed her appeal against the government notice asking her to vacate her cantonment house and cancelled the extension of her son…