BFIU crackdown following August 5: Tk 15,000 crore of 366 individuals and entities frozen

Between August and December last year, a total of 366 individuals and entities had their bank accounts frozen in connection with 112 cases, according to officials from the Bangladesh Financial Intelligence Unit (BFIU) directly involved in the process. After the fall of the Awami League government, the anti-money laundering unit took swift action, instructing banks to freeze accounts linked to politically exposed persons and major businesses due to their alleged involvement in money laundering and corruption.

During this period, around 225 investigation reports, including those related to suspicious transactions, were forwarded to the police's Criminal Investigation Department and the Anti-Corruption Commission (ACC). The list of frozen accounts includes those of former Prime Minister Sheikh Hasina, her son Sajeeb Wazed Joy, daughter Saima Wazed Putul, Hasina's sister Sheikh Rehana, and Rehana's son Radwan Mujib Siddiq.

In addition, the accounts of controversial business tycoon Mohammed Saiful Alam, chairman of S Alam Group, and his family, along with former land minister Saifuzzaman Chowdhury and his family, were frozen. Other notable individuals affected include Salman F Rahman, former private industry and investment adviser to Hasina and vice-chairman of Beximco Group, his son Shayan Fazlur Rahman, his wife, Ahmed Akbar Sobhan, founder of Bashundhra Group, and his family members.

Bank accounts belonging to the Awami League's research wing, the Centre for Research and Information (CRI), and its "Young Bangla" project were also frozen, as were the accounts of the owners and founders of Summit Group, Orion Group, Sikder Group, Nassa Group, and Nabil Group.

Among other notable individuals whose accounts were frozen following Hasina's fall were SM Parvez Tamal, chairman of NRBC Bank; Mohammed Adnan Imam, former chairman of NRBC Bank's executive committee; ABM Mokammel Hoque Chowdhury, former managing director of Union Bank; Chowdhury Nafeez Sarafat, former chairman of Padma Bank; and Nazrul Islam Mazumder, former chairman of Exim Bank.

The accounts of journalists Nayeemul Islam Khan, former press secretary to Hasina, and Mozammel Haque Babu, former CEO and chief editor of Ekattor TV, were also frozen.

BFIU chief AFM Shahinul Islam, who was appointed last week, clarified that the accounts were frozen before his tenure. He had previously served as deputy head of BFIU.

According to BFIU officials, if no evidence of suspicious activity or money laundering is found in a frozen account, it will be unfrozen.

The BFIU is currently investigating several irregularities, including money laundering, loan fraud, and embezzlement of government and depositor funds, involving more than a dozen business groups. Investigation reports regarding S Alam Group, Beximco Group, and the family members of former land minister Saifuzzaman have already been sent to the CID and ACC for legal action.

Additionally, the BFIU has requested specific information on money laundering activities from countries such as Singapore, the US, and the UK regarding six major business groups.