Call for making coordinated efforts by agencies concerned

Speakers at a seminar on Saturday stressed the need for making coordinated efforts by the country's seven authorised investigation agencies to check money laundering.

The need for ensuring financial intelligence support, storage of all trade-related information, increased efficiency through advanced technical training, strict monitoring and reporting of suspicious transactions, use of artificial intelligence and technology, and G2G bilateral agreements were also highlighted.

The speakers put forward the recommendations at a seminar on "Money Laundering: Trends and Combating the Challenges" held at the CID headquarters in the city.

They also emphasised the importance of carrying out nationwide campaign and awareness-building programmes on money laundering, and appointing a panel of lawyers for prosecution of relevant offences.

CID Chief and Additional IGP Mohammad Ali Mia was present at the seminar as the chief guest while Head of BFIU (Deputy Governor of Bangladesh Bank) Md. Masud Biswas and Joint Director of Customs Intelligence and Investigation Department Edip Billah were present as the special guests.

Chaired by CID DIG (HRM) Md Mainul Hasan, researcher and training expert Associate Professor Dr. Khan Sarfaraz Ali presented the keynote speech.

The seminar elaborated on the dynamics of financial crime especially money laundering and prevention strategies.

Under the initiative of the CID, a total of 450 officers received training in seven batches on financial crimes to improve their skills in conducting investigation and monitoring.

The seminar shed light on money laundering-related crime prevention, identification of criminals, conducting investigation of cases, family and social awareness to face all the challenges.

The CID chief handed over certificates to the participants of the seminar, held as part of the officers training programme.

The CID chief said various financial institutions, trade-based businesses, real estate and non-profit organisations do money laundering through placement, layering and integration methods.

"Prevention of money laundering is very important in a country's fight against organised crime, economic stability, transparency of the financial system and prevention of corruption," he said.

CID is playing an important role in investigating money-laundering cases and preventing money laundering, which has already gained considerable reputation at home and abroad.

He also said that prevention of money laundering requires mutual coordination, cooperation, experience and information sharing, use of advanced technology, strict supervision and control.

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