C T Online Desk: Under the guise of import-export trade, Bangladesh Bank has taken special initiative to prevent money laundering abroad and embezzlement incentives.
From now on, tracking of ships and containers and scanning of goods has been made mandatory for transportation of imported and exported goods. It is learned that this new directive issued by Bangladesh Bank will play an important role in preventing some irregularities in the country’s foreign trade. Sources said that various irregularities have been going on in the country’s import trade for a long time. The allegation of smuggling crores of takas abroad by showing false declaration of import consignments.
Not only over-invoicing, but also bringing in empty containers. Containers filled with various wastes including stone sand have also been caught at different times. In such cases, import fraud is more than just a foreign exporter committing fraud. Many traders and industrialists have deposited billions of dollars in foreign banks by smuggling dollars without importing goods from abroad. Sources also said that most of the hundreds of millions of dollars from Begumpara in Canada or second homes in Malaysia were smuggled under the guise of import. According to the concerned sources, LC has to be done at the beginning for importing any product. LC is done through bank.
Later, after the goods arrive in the country, the money is sent to the exporter’s account by paying the LC price through that bank. In collusion with foreign exporters, domestic importers have been involved in money laundering for a long time.
