Seal drug dealers' transaction channels

14 October, 2018 12:00 AM printer

Reports have it that many yaba traders have constructed palace like houses in some areas of the country. Tales of their lavish lifestyle is well known to us as well. However, the possession of a huge amount of wealth of those who have no identifiable income source is not enough to reach the drug lords. Worldwide, the ways how drug traders receive sale proceeds is a major area of attention for taking hold on them.

Empowered by the Money Laundering Prevention (amendment) act, the Department of Narcotics Control now can identify and detain drug dealers through effective use of the valuable financial information sharing service by the central bank. This initiative for the amendment to the law well fits in with the government's anti-drug policies.

It has been learnt that a huge amount of transactions of drug dealers across the country have been unveiled with the help of the Financial Intelligence Unit of the central bank. Detailed investigation throughout banks and other financial institutions in the country will reveal many such transactions.

In fact, illegitimate sources of money tell volumes about drug dealers who are holding and sharing the black money; they are likely to be involved in many terrible events subversive to the interest of the country. Godfathers of drugs may receive payments with the help of international arms dealers. This is how illegal arms are likely to enter the country and spread through those who want to create anarchic situations to destabilise the country. Before the crucial upcoming election, this situation demands extra precaution to save lives and properties of people.

We cannot rule out that drug traders do receive the sale proceeds through the trade-based money laundering. The DNC has come up with the real-life solution to prevent transaction of illegal money through the legal financial channels. Drug dealers also exchange the drug-related cash for high-value items like gold. The government has taken effective steps to end gold smuggling through the country. These initiatives will also help identify the drug lords and stop their transactions.

Drug traders can make the jobs easy for those who plan to launch a sabotage campaign to defame the government. In this situation, it is urgent to take a detailed strategy and implement the same to identify and block any dubious transaction through the banking channel.