Monitoring of Money laundering, militancy financing

BB asks banks to submit report by Oct

Bangladesh Bank (BB) has asked the scheduled banks to submit the monitoring report on money laundering and militancy financing issues before the central bank after investigating all branches within October, reports BSS.
BB gave the instruction on Tuesday and yesterday to all commercial banks at the meetings with the high officials of all banks at its headquarters regarding money laundering and militancy financing issues.
“We instructed all commercial banks to strengthen further their monitoring system and submit monitoring report after investigating their branches by October,” Abu Hena Mohd Razee Hassan, deputy governor of Bangladesh Bank and head of Bangladesh Financial Intelligence Unit (BFIU), told the news agency yesterday.
“We are giving some specific instructions to the banks with existing instructions to reinforce their efforts to oppose money laundering and militancy financing,” he added.
BB officials had two meetings with the chief executives and heads of anti-money laundering units of 56 banks.
Hassan said BB also asked the banks to conduct investigation frequently to identify whether there were any suspicious transactions and money laundering activities happening in their bank branches.
BB’s chief spokesperson Subhankar Saha said BFIU orgainsed the meetings with all commercial banks as part of the regular activities.
“The central bank has made the instruction to the banks to strengthen further their capacity to resist money laundering and militancy financing as was done previously,” he added.

Monitoring of Money laundering, militancy financing

BB asks banks to submit report by Oct

Bangladesh Bank (BB) has asked the scheduled banks to submit the monitoring report on money laundering and militancy financing issues before the central bank after investigating all branches within October, reports BSS. BB gave the instruction on Tuesday and yesterday to all commercial banks at the meetings with the high officials of all banks at its headquarters regarding money laundering and militancy financing issues. We instructed all commercial banks to strengthen further their monitoring system and submit monitoring report after investigating their branches by October, Abu Hena Mohd Razee Hassan, deputy governor of Bangladesh Bank and head of Bangladesh Financial Intelligence Unit (BFIU), told the news agency yesterday. We are giving some specific instructions to the banks with existing instructions to reinforce their efforts to oppose money laundering and militancy financing, he added. BB officials had two meetings with the chief executives and heads of anti-money laundering units of 56 banks. Hassan said BB also asked the banks to conduct investigation frequently to identify whether there were any suspicious transactions and money laundering activities happening in their bank branches. BBs chief spokesperson Subhankar Saha said BFIU orgainsed the meetings with all commercial banks as part of the regular activities. The central bank has made the instruction to the banks to strengthen further their capacity to resist money laundering and militancy financing as was done previously, he added.