April 8, 2004 ☼ Foreign Affairs
The Financial Intelligence Unit (FIU) will check financial crimes, suspicious transactions, collect data and analyze such crimes, while the strike force led by the attorney general will help the FIU nab the persons or organizations involved in money laundering activities or any otherfinancial crimes.
The finance minister said Wednesday that the task force has been set up in line with the United Nations resolution on money laundering, and the United States will help Bangladeshi governmentin this regard.
The participants of the meeting further discussed a number of recommendations raised by the Financial Sector Assessment Team of the United States, which visited Dhaka in 2002 as part of a US drive to stop fund flow to international terrorist outfits.
As to the US team’s suggestions, the government decided to bring the money changers under closer regulation, take steps to verify the identities of bank customers, scrutinize the fund flow as well as financial operations of non-governmental organizations,and make necessary amendments to the country’s existing Money Laundering Prevention Act (MLPA).[Xinhua]
If you would like to share or comment on this, please discuss it on my GitHub
Previous © Copyright 2003-2024. Nitin Pai. All Rights Reserved.