University of Wollongong Research Online Faculty of Law, Humanities and the Arts - Papers Faculty of Law, Humanities and the Arts 2018 'Captured by Evils' - Combatting Black Money, Corruption and Money Laundering in Bangladesh: The ogD Must Bark to Keep Predators Away' S M. Solaiman University of Wollongong,
[email protected] Publication Details S. M. Solaiman, ''Captured by Evils' - Combatting Black Money, Corruption and Money Laundering in Bangladesh: The oD g Must Bark to Keep Predators Away'' (2018) 21 (3) Journal of Money Laundering Control 264-289. Research Online is the open access institutional repository for the University of Wollongong. For further information contact the UOW Library:
[email protected] 'Captured by Evils' - Combatting Black Money, Corruption and Money Laundering in Bangladesh: The ogD Must Bark to Keep Predators Away' Abstract Purpose: The purpose of this paper is to demonstrate that the recurrent amnesties to black money holders (BMHs) in Bangladesh have not benefited the national economy, rather have increased corruption and money laundering, and that offering further opportunity to whiten back money as recommended by the Anti- Corruption Commission of Bangladesh will do more harm than good. Design/methodology/approach: This research relies on both primary and secondary materials adopting an archival analysis of the existing literature. Findings: The am jor findings include the following: the recurrent amnesties to BMHs have damaging impacts on corruption and money laundering in Bangladesh; the Anti-Corruption Commission of Bangladesh's recommendation to provide further opportunity to legalise black money is flawed, ill thought-out and misjudgement of the futility of the amnesties offered to date; and the black money problem could be better addressed through using educational, preventive and punitive measures that have been specifically formulated in this paper.