The issue of the money laundering first came into public notice when the media reported about several accounts with specific names alleged to have been involved in money laundering aimed at terror financing. This also in turn served as an eye opener to other money launderers involved in smuggling and big time criminal acts.

Although Money Laundering Act was first enacted in 2002 it was later redrafted in 2005 with stricter provisions to check terror financing. Strangely enough the draft law is still lying with the Crime Investigation and Prosecution and Financial Intelligence Units of the Bangladesh Bank. This needs to be introduced.

We are deeply concerned about this continued inaction on the part of the relevant agencies of the government in dealing with money laundering in general and the specific pending cases in particular. It is our impression that whenever an issue of considerable national import and public interest emerges, the government tends to delay in addressing it with any seriousness of purpose and commitment, for reasons best known to them.

Money laundering and terror financing go hand in hand. Hence, the importance of putting an effective check on it. It is our belief that no battle against terrorism can ever be won without dealing with the matter swiftly and decisively.

Looked at from a different perspective, money laundering is bound to cast a long shadow over the financial system. Let us, therefore, wake up and act here and now to checkmate money laundering. No partisan consideration should come into play in dealing with money laundering cases.