Annually $16 billion of illicit financial flows into the UK and other IFC with effortless impunity.

A FT Film "Bangladesh’s Missing Billions, Stolen in Plain Sight" presents a powerful exposé of systemic corruption in Bangladesh, revealing how an estimated $234 billion was allegedly siphoned off from the country.  

This FILM follows the news that the interim government of Bangladesh, led by economist and Nobel Peace Prize winner Muhammad Yunus, estimates that

• Illicit financial flows out of the country may have been as high as $16 billion annually during Hasina’s rule.
• An estimated $234bn was allegedly plundered from Bangladesh during Sheikh Hasina's 15-year reign as prime minister.
• Much of this flowed into the UK and other financial centres with effortless impunity.

One year on from the fall of Sheikh Hasina’s regime, this superb film on Bangladesh’s missing millions from the Financial Times, featuring Spotlight on Corruption Deputy Director Helen Taylor, brings home the urgency of recovering stolen assets that have been stashed in the UK.

https://www.ft.com/video/99e12ca5-8059-4a88-a27b-d4e1f6079084?playlist-name=section-9261403f-453d-4e4d-be10-c2439191663b&playlist-offset=0

https://www.youtube.com/watch?v=usUFFxklzas&t=4s

The FT Film titled "Bangladesh’s Missing Billions, Stolen in Plain Sight" explores:

• How the money was stolen: It delves into systemic corruption involving government officials, business elites, and international networks.
• The impact on Bangladesh: The loss of such vast sums has severely affected infrastructure development, public services, and poverty alleviation efforts.
• Global complicity: It also highlights how foreign banks and jurisdictions may have facilitated or disregarded the laundering of stolen funds.

THE FILMS' KEY FINDINGS & THEMES

1. Scale of Corruption

• The film estimates that $234 billion has been stolen over the years, an amount that dwarfs Bangladesh’s annual GDP.
• This figure is based on leaked documents, whistleblower accounts, and investigative journalism.

2. Political Protection & Elite Networks

• Much of the alleged theft occurred under the administration of Prime Minister Sheikh Hasina, with claims that influential political figures and their associates were involved.
• The film suggests that corruption is not just tolerated but institutionalised, with state mechanisms used to shield perpetrators.

3. International Financial Systems

• The stolen funds were often laundered through foreign banks, shell companies, and offshore jurisdictions.
• The film criticises the global financial system for enabling this theft, pointing to weak enforcement of anti-money laundering laws.

4. Impact on Citizens

• Despite economic growth, millions in Bangladesh remain in poverty.
• The stolen billions could have funded education, healthcare, infrastructure, and climate resilience—areas where Bangladesh is critically vulnerable.

5. Whistleblower Risks

• Journalists and whistleblowers who expose corruption face intimidation, arrest, or worse.
• The film includes interviews with individuals who risked their lives to reveal the truth.

6. Lack of Accountability

• Few high-profile prosecutions have occurred.
• The judiciary and law enforcement are portrayed as compromised or politically influenced.

Narrative Style & Impact

• The documentary uses interviews, archival footage, and data visualisations to build a compelling case.
• It aims to raise international awareness and pressure institutions to act against financial crime.

🏦 As Helen explains in the film, London has long been a magnet for dirty money, as a significant and open financial market with an army of professional enablers on hand to set up bank accounts and companies, buy houses and manage properties, and launder reputations.

IN ADDITION, Al Jazeera Media Network has reported on the matters and posted two podcasts

• 🔎 Brilliant investigative work by the Financial Times and Al Jazeera Media Network uncovered how former land minister of Bangladesh, Saifuzzaman Chowdhury, bought more than 300 properties in the UK alone worth £180m, now frozen as the National Crime Agency (NCA) investigates: 🔗 https://lnkd.in/eZ_F4s89  https://www.ajiunit.com/investigation/the-ministers-millions/

👉 Much more remains to be done –

• not only to recover the missing millions from Bangladesh but to chase down the billions in illicit wealth that kleptocrats and corrupt elites from around the world have hidden in plain sight in the UK – from luxury London properties to flashy cars.

SOURCES

• https://lnkd.in/eh6Hv7Dn
• https://www.linkedin.com/feed/update/urn:li:activity:7371908674656714752/
• https://lnkd.in/eMTW6kfi  
• https://www.ft.com/content/123f6740-0f26-47f1-b1c9-f9cd515a52a4
• https://www.ft.com/video/99e12ca5-8059-4a88-a27b-d4e1f6079084?playlist-name=section-9261403f-453d-4e4d-be10-c2439191663b&playlist-offset=0
• https://www.ajiunit.com/investigation/the-ministers-millions/
• https://www.youtube.com/watch?v=usUFFxklzas&t=4s