Transparency International Bangladesh (TIB) and four UK-based anti-corruption organizations have jointly urged the immediate freezing of illegal assets held by Bangladeshi nationals in several countries, including the United Kingdom, United States, Switzerland, EU nations, Australia, Singapore, Malaysia, Hong Kong, and the United Arab Emirates.

In a joint letter addressed to the UK Secretary of State for Foreign, Commonwealth and Development Affairs, Transparency International UK (TI-UK), the UK Anti-Corruption Coalition, the International Lawyers Project, Spotlight on Corruption, and TIB stressed the importance of active collaboration with the Bangladeshi government.

They called for a concerted effort to hold individuals with illicit assets accountable and to facilitate the return of these funds. This move is seen as a critical step towards building a transparent, accountable, and democratic "New Bangladesh.

Dr. Iftekharuzzaman, Executive Director of Transparency International Bangladesh, emphasized that many countries where these corrupt assets have been laundered are key development, trade, and investment partners.

“It is time for these nations to elevate their commitments to fighting corruption by taking immediate action to freeze illegal assets owned by Bangladeshi individuals and entities within their jurisdictions,” Dr. Zaman said.

He specifically urged the governments of the UK, USA, Switzerland, Canada, Australia, EU countries, as well as Singapore, Malaysia, Hong Kong, and the UAE to freeze these assets to facilitate their repatriation to Bangladesh and ensure accountability for the perpetrators.

Susan Hawley, Executive Director of Spotlight on Corruption, added, “The UK must demonstrate its commitment to aiding developing countries like Bangladesh in tracking down stolen assets and ensuring the accountability of corrupt individuals.

By strengthening anti-corruption measures at this critical juncture, the UK can play a pivotal role in helping Bangladesh achieve a secure, democratic, and inclusive future.”

Duncan Hames, Director of Policy at Transparency International UK, stated, “We are aware that Bangladeshi politicians with unexplained wealth and members of the business elite accused of corruption hold substantial asset portfolios both in the UK and abroad.”

“The British government should now collaborate with global allies and civil society in Bangladesh to implement a sanctions regime that freezes the assets of these corrupt individuals and their associates, ensuring they do not benefit from their ill-gotten gains,” he added.

In a letter to the UK Secretary of State dated August 30, it was emphasized that extensive corruption by beneficiaries of the recently ousted authoritarian regime is being revealed in Bangladesh, which is currently undergoing a transitional phase.

The assets smuggled by these beneficiaries rightfully belong to the people of Bangladesh. To aid in the creation of a "New Bangladesh," it is crucial to swiftly locate and recover these hidden assets from various countries around the world.

This effort is essential for enhancing transparency, accountability, democracy, and inclusivity in the country. The letter calls on the UK Secretary of State to support this initiative.

The letter calls on the UK Government to take swift action on three critical issues in support of the Interim Government of Bangladesh.

First, the five anti-corruption organizations—TI-UK, the UK Anti-Corruption Coalition, the International Lawyers Project, Spotlight on Corruption, and TIB—request that the UK’s National Crime Agency actively investigate the presence of laundered money from Bangladeshi individuals or companies in the UK.

They urge the agency to take immediate steps, including freezing these assets, as a preliminary measure to facilitate their repatriation to Bangladesh.

Second, they seek assistance from the UK government in reforming key Bangladeshi institutions, such as the Anti-Corruption Commission, Financial Intelligence Unit, Criminal Investigation Department, National Board of Revenue, Office of the Attorney General, and law enforcement agencies.

Additionally, they request support in enhancing the capacity of forensic accountants and lawyers to enable these agencies to quickly identify and recover laundered funds.

Third, the letter calls for increased cooperation with countries where Bangladeshi assets have been smuggled, including the United States, Canada, Australia, the European Union, Singapore, Malaysia, Hong Kong, and the United Arab Emirates (particularly Dubai).

It emphasizes the need to expedite the process of asset repatriation and ensure accountability for all parties involved in money laundering.

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