Policy dialogue on prevention of trade-based money laundering held in Chattogram
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The Bangladesh Financial Intelligence Unit (BFIU), in collaboration with the and Association of Anti Money Laundering Compliance Officers of Banks in Bangladesh (AACOBB), organised a high-level Policy Dialogue on the Prevention of Trade-Based Money Laundering (TBML) at Chittagong Club Ltd recently.
According to a press release, the dialogue aimed to strengthen the national response to TBML risks and foster collaboration among financial institutions, regulators, and enforcement agencies.
Md. Mofizur Rahman Khan Chowdhury joined the event as the chief guest and Mr. Md. Mostakur Rahman, Director of BFIU, was the special guest.
The first panel discussion, moderated by the chief guest himself, titled “TBML in Bangladesh: Banking Risks, Regulatory Framework and Challenges in Compliance”, brought together senior banking leaders and customs officials to discuss contemporary issues such as evolving TBML typologies, sanctions compliance, and gaps in trade finance monitoring. Panellists highlighted the need for stronger collaboration between banks and regulators, enhanced CDD/KYC processes, and adoption of technology-driven solutions like AI-based anomaly detection and blockchain platforms.
The second panel, “International Best Practices to Prevent TBML: Combined Approach and Way Forward”, focused on global perspectives and strategies for harmonising local regulations with FATF standards. Experts stressed the importance of integrated sanctions screening, cross-border information sharing, and capacity building to tackle emerging risks in trade-based money laundering.
In his speech, the acting head of BFIU mentioned, “With the cooperation of regulatory authorities and financial institutions alike, we shall establish a more robust, resilient, and enduring culture of compliance across society”.
The dialogue concluded with a declaration of an action plan and closing remarks by BFIU leadership, reaffirming Bangladesh’s commitment to robust AML/CFT compliance and trade transparency.