Mahmudul Alam
A case has been filed stating that 101 million dollars (more than 8,000 crore taka) was stolen from the reserve of Bangladesh Bank. The case was filed under the 4 sections of the Money Laundering Prevention Act-2012, section 54 and 379 of the Information and Communication Technology (ICT) Act-2006.
Sub-section 2 under Section-4 of the Money Laundering Prevention Act-2012 states that if any person launders money or tries or conspires to launder money, he or she may be punished by being jailed for 4-12 years. Furthermore, he or she must pay back the double of the money laundered if the amount is less than 10 lac. If the amount is bigger than 10 lac that person will pay a fine. The condition being, if the money launderer cannot pay the fine within the time-frame set by the court, he or she may have their jail time increased in correspondence with the amount of money left to be paid.
Sub-section 3 states that the court can confiscate all properties owned by launderer if deemed necessary. Sub-section 4 states sub-section 2 applies to all entities such as companies or organizations as well. The exception being that they will have to pay double the amount laundered in the amount is lower than 20 lac. If it is more than that, the fine will be decided by the court. In this case, the person in charge of the entity will be jailed.
Section 54 and 379 of the ICT Act-2006 can also punish the criminal of theft with jail-time and or a fine.
Translated by: Sumaiya Kabir
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