ACC should not act like a toothless tiger: HC

The High Court today observed that the Anti-Corruption Commission (ACC) should not act like a toothless tiger against corruption and irregularities.

The ACC must go after the corrupt in order to secure the national interest, the court said, adding that relevant law should be reformed so that taxpayers disclose their assets at home and abroad. 

The HC bench of Justice Md Nazrul Islam Talukder and Justice Mohi Uddin Shamim made the observation during hearing a writ petition filed for bringing back the money deposited to foreign banks, including Swiss banks.

During the hearing, lawyer Abdul Qaium Khan, one of the petitioners, told the HC bench that money laundering from the country has gotten worse in recent years.

Citing a research paper prepared by Sheikh Tauhidul Haque, a senior assistant secretary of the ministry of finance, the lawyer said on average, 60 percent of the national GDP has gone to the underground economy since 1973 to 2010.
   
Malaysia has become the second home of some Bangladeshi money launderers, lawyer Abdul Qaium Khan said.

He told the HC bench that business tycoon Moosa Bin Shamsher on June 7, 2015, submitted his wealth statement to the ACC, reportedly saying that he has 20 billion US dollars and ornaments worth Tk 19 crore deposited to Swiss bank accounts, which were frozen.

The authorities concerned including the ACC and Bangladesh Financial Intelligence Unit have failed to prevent the money laundering and to bring the laundered money back to the country, Abdul Qaium Khan argued.

After hearing his arguments, the HC bench set Tuesday for resuming the hearing.