Punishment for money laundering should be enhanced to life imprisonment: HC
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A High Court bench today observed that the punishment for money laundering should be enhanced from the existing 12 years imprisonment to life imprisonment considering the gravity of the offence.
Money laundering is a serious offence and its highest punishment of 12 years imprisonment under the Money Laundering Prevention Act is insufficient, the bench of Justice Md Nazrul Islam Talukder and Justice Mohi Uddin Shamim said.
The bench made the observation during hearing a bail petition of SM Shoabul Kabir, a convict in a case filed against nine executives of Bismillah Group for laundering Tk 15.33 crore.