The panel discussion included representatives from BFIU, Bangladesh Bank and scheduled banks as well as officials from the Anti-Corruption Commission, Bangladesh Police, Criminal Investigation Department (CID) and Central Intelligence Cell of the National Board of Revenue.
The conference stressed the importance of ensuring good governance in the banking sector, addressing emerging technology-driven risks, advancing digital transformation and strengthening inter-agency coordination to effectively combat financial crimes.
Special attention was also given to reducing risks in lending and investment, including fraudulent entities, fake collateral, fund diversion and willful default.
The participants highlighted the importance of robust customer due diligence (CDD/KYC), monitoring of transactions and timely submission of Suspicious Transaction Reports (STR) and Suspicious Activity Reports (SAR).
Recognizing the growing cyber and technological risks associated with the expansion of digital financial services, the conference called for capacity building, training and adoption of modern technologies by relevant authorities.
The conference concluded with a strong call for collective efforts of all stakeholders and development of a sustainable compliance culture to effectively combat money laundering and terrorist financing in Bangladesh.