CID investigates former Citizens Bank chair Towfika Karim over money laundering claims

The officials describe her as a ‘close companion’ of former law minister Anisul Huq

The Criminal Investigation Department, or CID, has launched an investigation into former Citizens Bank chair Towfika Karim over alleged foreign money laundering, identifying her as a "close associate" of former law minister Anisul Huq.

In a statement on Wednesday, the CID announced it has begun investigating Towfika and associates based on “information and allegations received from multiple sources.”

Towfika, who once held a key role in the law community, is alleged to have developed close ties with Anisul, gaining considerable influence as his “personal cashier” over time.

CID’s statement accuses Towfika of building a syndicate and empire of misappropriated assets through misuse of power with Anisul’s "direct support and patronage."

According to CID, Towfika stands accused of tampering with court files, engaging in fraud, facilitating employment without formal assessments, and altering verdicts for large sums of money from defendants in several high-profile cases across district and metropolitan courts since 2014.

CID’s investigation also indicates irregularities in Towfika’s recruitment of 18 drivers from Anisul’s constituency, Akhaura-Kasba, into Dhaka’s lower courts in 2020 under questionable circumstances.

Towfika is said to have assumed the role of chair at Citizens Bank after Anisul’s mother Jahanara Huq, passed away.

She also previously served as managing director of Desh TV, an organisation owned by the former law minister.

The CID report alleges that Towfika, using Anisul’s illicit funds, acquired properties as "second homes" in Canada, Dubai, and Malaysia.

CID sources suggest Towfika may have fled to Canada on Jul 26, just before the Awami League administration’s Aug 5 ouster.

Citing money laundering violations under the Money Laundering Prevention Act, CID’s Financial Crime Unit has officially launched a probe into her and associated parties.

The Bangladesh Financial Intelligence Unit, or BFIU, also froze accounts linked to Towfika and Anisul on Aug 14, following the change in government.