Corruption has not yet been completely eradicated from country: TI Chairman
Transparency International (TI) Chairman Francois Valerian has said corruption has not yet been completely eradicated from the country, even after the July mass uprising.
He said that corruption still exists, but it's too early to say whether it has increased or decreased.
Francois Valerian made these remarks during the press conference organised by Transparency International Bangladesh (TIB) on the occasion of his visit to Bangladesh as the Chairman of the global anti-corruption organisation, TI.
When asked about his observations on the corruption situation in the country, the TI Chairman said that corruption had increased significantly during the final years of authoritarian rule. Even after the change in power in August last year, corruption has not been completely eliminated.
Blurb: When asked about the reason for his visit to Bangladesh, the TI Chairman said that his tour of three South Asian countries concludes with Bangladesh, and this is a very important visit. Before coming to Bangladesh, he visited the Maldives and Sri Lanka. He added that this visit is not merely symbolic; its purpose is also to express full support and solidarity with the global anti-corruption movement.
The TI Chairman further stated that corruption cases involving influential and powerful individuals must be brought through proper judicial processes and brought to a final conclusion. Countries that have been able to do this have improved their scores on the Corruption Perceptions Index.
When asked about attacks and violence against journalists in the country, the TI Chairman said, “If journalists, civil society activists, and human rights defenders are subjected to harassment, threats, or violence, it is impossible to prevent abuse of power or establish accountability.”
He added that informing citizens and uncovering the truth are essential for democracy, and therefore, journalists must be protected.
At the same time, when asked about the reason for his visit to Bangladesh, the TI Chairman said that his tour of three South Asian countries concludes with Bangladesh, and it is a very important visit.
Prior to coming to Bangladesh, he visited the Maldives and Sri Lanka. He emphasized that this visit is not merely symbolic; its purpose is to express full support and solidarity with the global anti-corruption movement.
TI is assisting in the recovery of laundered money
During the rule of the Awami League government, which was ousted in the July uprising, around USD 16 billion was reportedly laundered every year. The TI Chairman stated that the organisation is assisting in efforts to recover this money.
Francois Valerian said it is crucial to know where the laundered money has gone. Civil society must be aware of the whereabouts of these funds, and civil society organisations need to be part of the legal process to ensure those assets can be confiscated.
He also called for global action to prevent money laundering.
Citing a recent example of the confiscation of assets worth £185 million in London, the TI Chairman said that this was made possible through a joint initiative by TI Bangladesh, TI UK, and Spotlight on Corruption—a UK-based independent anti-corruption organisation. In this case, civil society played its role, and the British authorities also took action.
Corruption cases involving influential and powerful individuals must be brought through proper judicial processes and brought to a final conclusion. Countries that have been able to do this have improved their scores on the Corruption Perceptions Index.
TI Chairman Francois ValerianFrancois Valerian stated that nearly one trillion dollars are stolen globally every year. He emphasised that this money is urgently needed in every country for education, healthcare, infrastructure, and climate policy.
Referring to money laundered from Bangladesh, Valerian said that corrupt leaders often use it to buy luxury homes and cars—but even that is just the tip of the iceberg. A significant portion of the laundered money ends up in capital markets, where it drives up inflation and harms the economy. Funds that were meant to serve the public are instead turned into meaningless private wealth.
Meanwhile, TIB Executive Director Iftekharuzzaman recommended not only working to recover laundered funds but also strengthening efforts to prevent money laundering in the first place. He stated that if there are no opportunities to transfer money abroad, launderers will have no means to do so. Therefore, avenues for illicit transfers must be shut down. The tools available to do this must be sharpened, and existing laws must be enforced more strictly.