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CID officials said they launched the probe after the country’s forex market became volatile following the rapid appreciation of the US dollar against the taka in May.
Bangladeshi migrant workers and professionals working in different companies and universities were among those who sent home money through hundi, they said adding that this came to light after the arrest of 12 MFS agents and four hundi traders.
The bulk of the amount was collected by hundi traders in Dubai and Saudi Arabia, and the rest in Italy, Singapore, Malaysia and Kuwait, a CID high official told The Daily Star yesterday.
CID officials said these hundi gangs operate split intothree groups. The first group collects foreign currency from expatriates abroad while the second group pays the amount to MFS agents in the local currency. The third group is comprised of MFS agents who transfer the money to the relatives or persons designated by the expatriates.
The 16 arrestees made suspicious transactions involving Tk 20.70 crore in the last four months. The CID arrested 11 of them from different parts in Chattogram and the rest in Dhaka.
The CID also seized 34 mobile phones, 33 SIM cards and Tk 10.46 lakh in cash from the arrestees. Four of the SIM cards were linked to agent accounts that had deposits of Tk 3.46 crore.
With the help of MFS agents, hundi traders are also carrying out illegal businesses such as online gambling, drug trafficking, gold smuggling and yaba trade, the CID chief mentioned.
About the role of MFS companies, he said Bangladesh Bank will look into it. The arrestees are agents. The MFS companies should increase vigilance.
The CID has so far filed three money laundering cases against 45 people with Kotwali Police Station in Chattogram, and Khilgaon and Mohammadpur police stations in Dhaka.
It also identified six Bangladeshi hundi traders in Saudi Arabia, who collected money from migrant workers and asked their counterparts in Bangladesh to send the money to the workers’ relatives with the help of MFS agents.
Investigators said the majority of these MFS agents are from Chattogram, Brahmanbaria, Cumilla, Kushtia, Khulna and Bagerhat.
Most of the hundi transactions (27 percent of around Tk 25,000 crore) were made in Chattogram region, said one of the investigators.
According to the statement of the case filed with Kotwali Police Station, the investigators found suspicious transactions from the agent account of “Joy Computer” owned by Rupon Kanti Das Joy. In four months since April, 7,825 transactions involving Tk 6.06 crore were made from this account to different MFS accounts, mostly belonging to migrants’ relatives.
In another case filed with Khilgaon Police Station, the investigators said Tk 11.97 crore was sent to expatriate’s relatives from three merchant accounts through MFS in three months.
Many of these 5,000 agents are involved in hundi trade, online gambling, and cryptocurrency trade, said the CID official, adding that most of the online gambling sites are controlled from Russia.
A BB source said Bangladesh Financial Intelligence Unit (BFIU) provided the list of 5,000 agents to the CID following suspicious transactions.
The transactions were made from these accounts between 12:00am and 6:00am though the peak time for MFS transactions is between 6:00pm and 8:00pm. Each of these accounts made four transactions per minute between 12:00am and 6:00am, which is very unusual, the source added.
Asked about the beneficiaries of the hundi trade, a top CID official said a section of Bangladeshi businessmen abroad buys the foreign currency from hundi traders.
“Other buyers include people who are looking to purchase property or receive treatment abroad,” added the official, seeking anonymity.
“Hundi traders have connections with migrant workers. They collect money from migrants at the latter’s convenience and immediately arrange its transfer to their relatives,” the official said.
The official suggested that the money transfer system be made more efficient so that remitters can transfer money to their relatives within the shortest possible time.
Sources in the banking sector say many expatriates prefer hundi for sending home money as hundi traders offer exchange rates higher than the official one.
Referring to the list of 5,000 agents, Kamrul Ahsan, additional deputy inspector general of the CID, said more names may come up after further investigation.
“We have just started our probe… We will continue our drive to arrest those involved in hundi and other such illegal trades,” he told this newspaper.
Lightning strike
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tragic that so many poor farmers died trying to make a living.
“Their death is a huge loss for the whole village.”
Uzzal Hossain, upazila nirbahi officer, said the local administration has decided to give Tk 25,000 to each of the families of the deceased to help them with the burial procedures.
“We will talk to the higher authorities about the matter so that the victim families can get due compensation.”
Mamata blasts
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the Netaji Subhash Indoor Stadium in Kolkata.
“I don’t want to talk about external affairs or bilateral ties, but I have noticed that the Centre tries to stop me whenever I am invited to any foreign country. I want to know why the union government is so worried about me meeting foreign dignitaries.”
Hasina, who wrapped up her India visit yesterday, during an interaction with the media at the Bangladesh High Commission in New Delhi on September 6,said Mamata was like her sister and expressed disappointment over not being able to meet the chief minister.
In July this year, Hasina had even written to Mamata saying she was keen to meet her during this visit.
A senior official of the Indian government rejected Mamata’s criticism and said the central government does not invite chief ministers to events related to a visiting head of a government.
“Sometimes, chief ministers are invited for state banquets or some other ceremonial events but there was no such occasion during Sheikh Hasina’s visit this time,” said the official, preferring anonymity.