When corruption crosses borders

Not far from the glittering skyline of downtown Toronto, in the leafy suburbs of Mississauga and Markham, stand rows of palatial homes — elegant, glass-fronted, and conspicuously quiet. To a casual visitor, these neighbourhoods look like any other prosperous corner of suburban Canada. But to Bangladeshis, they symbolise something far darker: a destination for the country's looted wealth.

- BY SANGRAM DATTA

A recent exposé by Bangladesh Pratidi one of the nation's largest newspapers, has reignited debate over “Begumpara,” a term now synonymous with corruption, luxury, and flight from accountability.

The report, published on 05 October, claims that since August 2024, Bangladesh’s interim government has launched initiatives to recover billions of dollars siphoned overseas — much of it ending up in Canada. Investigators believe at least 1,000 Bangladeshis, suspected of large-scale money laundering, have made Canada their permanent home. They include senior bureaucrats, influential businesspeople, and politicians who accumulated immense fortunes through corruption before quietly moving their assets abroad. Between 2006 and November 2024, more than 44,000 Bangladeshis obtained Canadian permanent residency (PR), according to official Canadian immigration data.

Most were ordinary migrants — professionals, students, and families seeking stability and opportunity. But a small, powerful subset took advantage of the now-defunct Investor Visa Programme, which allowed wealthy foreigners to buy residency through financial investments. Canadian authorities eventually scrapped the programme in 2014, citing evidence that it had become a gateway for global elites to evade taxes and accountability. Yet by then, hundreds of well-connected Bangladeshis had already used it to move millions of dollars out of the country — sometimes through elaborate financial networks designed to conceal their tracks. “Canada’s openness and its stable financial system made it very attractive,” said a South Asia-based anti-money-laundering analyst. “For many, it became the final stop — a place where stolen money could sleep safely.”