BFIU holds conference on anti-money laundering compliance

The Bangladesh Financial Intelligence Unit (BFIU) recently organised a two-day conference for chief anti-money laundering compliance officers (CAMLCOs) of scheduled banks at a hotel in Cox’s Bazar to strengthen banks’ role in combating money laundering and terrorist financing.

Iqtiaruddin Md Mamun, head of the BFIU, inaugurated the conference as chief guest, according to a press release.

Speaking at the event, Mamun stressed the importance of integrity, governance, digital transformation and collaboration in strengthening Bangladesh’s anti-money laundering (AML) and counter-terrorist financing (CFT) framework.

He said the rapid expansion of digital banking services has improved financial inclusion but also increased risks related to e-commerce fraud, trade-based money laundering and cybercrime.

Mamun underscored the need for effective corporate governance, technology-driven monitoring systems, risk-based compliance measures and timely reporting of suspicious transactions.

He also highlighted the importance of coordinated efforts among banks, regulators and law enforcement agencies to build a transparent, secure and sustainable financial system.

The BFIU chief further provided guidance on preparations for Bangladesh’s upcoming Mutual Evaluation by the Asia/Pacific Group on Money Laundering (APG) for the 2027-2028 cycle, emphasising the need to strengthen institutional readiness.

Mashrur Arefin, managing director of City Bank PLC and chairman of the Association of Bankers, Bangladesh (ABB), attended the programme as a special guest.

Mofizur Rahman Khan Chowdhury, deputy head of the BFIU, chaired the event.

The theme of this year’s conference was “Strengthening AML/CFT Compliance through Integrity, Governance, Digital Transformation and Collaboration”.

Managing director, chief executive officers and CAMLCOs of scheduled banks, along with senior officials from the BFIU and Bangladesh Bank, attended the conference.