CHITTAGONG: Finance Minister Abul Mal Abdul Muhith Saturday said it is difficult to prove money-laundering matter as the law is riddled with loopholes.

So, the anti-money-laundering and the terrorism-prevention acts would be placed for amending in the next session of parliament, said the Minister.

He made the comments to journalists after addressing a view-exchange meeting with customs officers at Circuit House in the city.

About the recovery of smuggled-out money, the finance minister observed that the amount is very little as it is difficult to reclaim the siphoned-off money for the weaknesses in the law.

He also informed the revenue collectors that the money-laundering act would be matched up with international money-laundering law for effectively netting back the money siphoned off the country.

Replying to a question, he informed that at present there is a case under judicial process in a court of the United States of America. "There are some cases regarding this under process of filing," he said.

The minister commented that the amount of laundered money is much higher than the money mentioned in a money-laundering case filed against Arafat Rahman Koko, younger son of former Prime Minister Khaleda Zia.

At the view-exchange meeting, the custodian of exchequer expressed satisfaction over a record amount of revenue collected in the last fiscal year--and he gave a pat on the back of customs officers.     

BDST: 1610 HRS, JULY 31, 2010