BB steps up efforts to counter money laundering

Posted by BankInfo on Sat, Nov 02 2013 12:47 pm

Non-financial businesses, including gold and real estate, will have to send reports of transactions they deem suspicious to the central bank from now onwards as part of the government’s efforts to combat money laundering and terrorism financing.
Bangladesh Bank yesterday issued a guideline to be applied by all real estate developers, business firms dealing with valuable metals and stones, trust and company service providers, lawyers, notary and other law professionals and accountants.
For instance, if a real estate developer becomes suspicious of the buyer’s source of money, it would immediately have to send the transaction’s report to the central bank.

The guideline, which was prepared in light of Anti-money Laundering Act, 2012 and Anti-terrorism Act, 2009, will be available in the website of the central bank and has been sent to the presidents of the concerned businesses and professional organisations.

News:The Daily Star/02-Nov-2013