Bangladesh has strengthened its regulatory framework to combat money laundering and terrorism financing. The Bangladesh Financial Intelligence Unit (BFIU), under the Money Laundering Prevention Act, 2012 (amended in 2015), issues guidelines and circulars to enforce compliance. Financial institutions are mandated to implement Know Your Customer (KYC) policies, establish Central Compliance Committees (CCC), and develop transaction monitoring and reporting processes to identify and report suspicious activities. Training programs are also conducted to enhance staff awareness regarding AML and CTF obligations. Non-compliance can result in severe penalties, including fines and imprisonment. These measures align with international standards set by organizations such as the Asia/Pacific Group on Money Laundering (APG) and the Financial Action Task Force (FATF), reinforcing Bangladesh’s commitment to global financial integrity.
By focusing on these key compliance and reporting requirements, Bangladesh aims to foster a more transparent, accountable, and robust financial environment conducive to sustainable economic growth.
