BFIU increased time to implementation of Money Laundering Prevention Guidelines

Sunbd Desk || Published: 2021-03-09 10:27:21 || Updated: 2021-03-09 10:27:21

Bangladesh Financial Intelligence Unit (BFIU) has extended till June 30 this year the implementation of the guideline on prevention of money laundering, terrorist activities and financing of weapons of mass destruction in international trade in view of the Covid-19 epidemic situation.

According to a circular, the decision was taken in a meeting with the head of BFIU and the concerned officials of the banks concerned, subject to their application and the overall situation.

Last year, the BFIU instructed scheduled banks to take effective measures to curb money laundering, terrorist activities and the proliferation of weapons of mass destruction in international trade.

Banks were to implement the guidelines by June 1, 2020, in line with their respective guidelines for international trade, scope, number of customers, nature, etc. The implementation period was later extended till November 1, 2020 due to Kovid.

Sunbd/NJ

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