Banks' chief anti-money laundering officers called to BFIU meeting today

The Bangladesh Financial Intelligence Unit (BFIU) has called the chief anti-money laundering compliance officers of the country's state-owned and private banks to a meeting scheduled for today.

Chowdhury Moinul Islam, general secretary of the Association of Anti-Money Laundering Compliance Officers of Banks in Bangladesh and deputy managing director of BRAC Bank, confirmed the scheduled meeting at the BFIU to The Business Standard.

Senior officials at several banks said they had no idea why the BFIU called them. However, they believe that in the changing situation of the country, instructions may be given to prevent money laundering.

A senior official at the BFIU told TBS, "We will have a meeting with the chief anti-money laundering compliance officers of different banks in two phases on Thursday morning and afternoon.

"In case of any kind of suspicious transaction in the current situation of the country, we will immediately give verbal instructions to banks to file suspicious transaction reports (STR) and suspicious activity reports (SAR)."

"Apart from this," he said, "there may be various instructions to prevent money laundering. According to STR or SAR, if deemed necessary, the bank account may be frozen.'"

Head of BFIU Md Masud Biswas, four deputy governors, and one adviser of the Bangladesh Bank resigned yesterday morning in the face of pressure from central bank officials and employees on allegations of arbitrariness, irregularities, and corruption.

Additionally, a press release from the agitators claimed that Governor Abdur Rouf Talukder left the country in the dead of night.

Usually, BFIU gives such instructions to banks through circulars. However, the circular could not be issued due to the absence of the BFIU head.

Another senior BFIU official said, "We have information that many corrupt government officials and politicians are attempting to withdraw illegally earned money from their accounts.

"We generally cannot freeze a bank account without the advice of authorities or law enforcement. However, we will instruct banks to prevent this as much as possible."

Another senior official from the central bank told TBS, "Even if we wanted to, we were unable to take significant actions despite the wrongdoings of many businessmen and influential people who were favoured by the previous government.

"With the formation of the new interim government, it is expected that they will seek extensive information from us regarding money laundering. We are preparing accordingly."