Money Laundering

লিগ্যাল ভয়েস

Layering- To conceal the illegal origin of the placed funds and thereby make them more useful, the funds must be moved, dispersed and disguised. The process of distancing the placed funds from their illegal origins is known as layering. At this stage, money launderers use many different techniques to layer the funds. These include using multiple banks and accounts. Having professionals act as intermediaries and transacting through corporations and trusts. Funds may be shuttled through a web of many accounts, companies and countries in order to disguise their origins. ACC vs Md Tarique Rahman, 68 DLR 500

Money Laundering-The money which was brought to Bangladesh by the writ petitioner was eventually possessed, transferred and converted knowing that such property is proceeds of crime. New and distinct offence of money laundering has committed in Bangladesh by the petitioner. Robin Chowdhury @ Misba Uddin vs Anti-Corruption Commission, 69 DLR 253

Money Laundering-Money laundering is a most organized economic crime. The object of the offender is aimed to use the proceeds of crime in the manner as if it has been earned legally. And using the ill-gotten funds in this way is possible as long as the source of the funds deposited in bank account remains concealed. This is the reason why the money launderer makes the origin proceeds of crime concealed. ACC vs Md Tarique Rahman, 68 DLR 500

Money Laundering-Money laundering is a criminal offence aimed at presenting wealth of illicit origin or the portion of wealth that has been illegally acquired or concealed from the purview of tax and other authorities, as legitimate, through the use of methods that obscure the identity of the ultimate beneficiary and the source of the ill-gotten profits. ACC vs Md Tarique Rahman, 68 DLR 500

Money Laundering-Money laundering is a single process. However, its cycle can be broken down into three distinct stages namely, placement stage, layering stage and integration stage. At the placement stage of deriving the amount [alleged consultation fee] accused Rahman got him engaged through convict Mamun who inserted the 'dirty money' in his account into a legitimate financial institution in Singapore in the form of cash deposits, it may be validly inferred. Next, at the layering stage too accused Rahman's involvement stands proved as he is found to have had drawn 54,981.42 US dollar by using the supplementary gold visa card and it was done intending to keep the fund distant from their source. And even at integration stage accused Rahman used the money without getting caught, by using the supplementary gold visa card which was well within the knowledge of convict Mamun. ACC vs Md Tarique Rahman, 68 DLR 500

Money Laundering-'Money laundering' is the generic term used to describe the process by which criminals disguise the original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source. Laundering allows criminals to transform illegally obtained gain into seeming by legitimate funds. ACC vs Md Tarique Rahman, 68 DLR 500

Placement-At this stage, illegal funds or assets are first brought into the financial system. This placement makes the funds more liquid. For example, if cash is converted into a bank deposit, it becomes easier to transfer and manipulate. Money launderers place illegal funds using a variety of techniques, which include depositing cash into bank accounts and using cash to purchase assets. Durnity Daman Commission VS Md Tarique Rahman, 68 DLR 500

Predicate offence-The money laundering are financial crimes which are committed and carried out by individuals, corporations or by organized crime groups for the purpose of generating huge profits. In order to give colour of legitimacy, these profits are laundered by the criminals. Corrupt public officials launder their illgotten bribes and kick-backs to give them the colour of legitimacy. If the money laundering offences are unchecked, money laundering can destabilize the financial system and undermine development efforts in emerging markets. Mohua Ali vs State, 70 DLR 816