ACC and FBI Collaborate to Recover Laundered Money: A Renewed Effort Amid Economic Challenges

The Anti-Corruption Commission (ACC) of Bangladesh has initiated a fresh attempt to recover money laundered abroad during the period of 2009 to 2024. The ACC has sought assistance from international agencies, including the U.S. Federal Bureau of Investigation (FBI), to aid in this endeavor.

A delegation from the FBI, led by Legal Attaché Robert Cameron, held a meeting with ACC officials on Monday to discuss potential collaboration. The meeting, which took place at the ACC headquarters in Dhaka, focused on forming a joint task force to address money laundering and recover funds that were illegally transferred out of Bangladesh.

During the meeting, the ACC and FBI deliberated on establishing a joint task force. The discussions centered on how the FBI could assist the ACC, either by directly participating in the task force or by acting as a consultant. An ACC official stated, "We have requested the FBI's assistance in recovering the laundered money, and they have assured us of their support."

The possibility of signing a memorandum of understanding between the two agencies was also explored to formalize this cooperation. ACC Secretary Khorsheda Yasmeen, in a briefing after the meeting, described it as a "courtesy meeting" and noted that the FBI was interested in understanding the ACC's operations. "They have assured us of their support if needed," she said.

On Sunday, Commerce Adviser Saleh Uddin Ahmed announced plans to create a special task force to expedite the recovery of laundered money. This task force is expected to include representatives from key government and financial institutions, such as Bangladesh Bank, the Bangladesh Financial Intelligence Unit, the National Board of Revenue, and the Attorney General's Office, among others.

"We are currently working on establishing the task force's guidelines and criteria for its members," Ahmed said, adding that the task force aims to enhance coordination among various agencies involved in the recovery process.

The renewed focus on recovering laundered money is part of broader efforts by the Bangladeshi government to tackle financial crimes and enhance economic stability. A press release from the chief adviser's office on August 28 confirmed that the interim government had started working to "acquire local assets" of those accused of corruption and recover laundered money from abroad.

The interim government has also initiated contact with various foreign agencies to seek assistance in the repatriation of funds. The authorities are looking to audit and identify the extent of funds lost to money laundering and implement measures to prevent future occurrences.