Standard Chartered helps development sector clients to fight financial crime

Standard Chartered Bangladesh recently organised a specialised training session on Anti-Money Laundering (AML) for clients belonging to the development sector.

The training session touched on the impact of money laundering – in particular, the ways in which it diverts funds and resources away from economically and socially productive uses, said a press release.

By highlighting the negative impact of money laundering, the session provided attendees with the knowledge needed to better equip them to safeguard against such AML risks and work towards curbing financial crime.

In order to best serve the attendees present, the session was tailored to focus on regulatory requirements pertaining to development sector organisations and their activities. The training session touched on international best practices and provided key tips on how organisations can strengthen their controls on fraud, anti-money laundering, and counter terrorist financing to mitigate criminal economic activity.

Enamul Huque, managing director, head of Client Coverage, Corporate, Commercial & Institutional Banking, Standard Chartered Bangladesh, said, "Standard Chartered is on the front lines when it comes to fighting financial crime. In order to effectively combat money laundering and its various negative impacts, we have teamed up with partners across various industries to create solutions and enhance our collective knowledge base. The bank is also deeply committed to spreading awareness and ensuring knowledge sharing on the country's tax laws and regulations with clients to help mitigate financial crime risks. We believe that by hosting training sessions such as this one, we can all play a role in safeguarding against financial crime risks."

As the nation's long-term partner in progress, Standard Chartered has consistently been linked to Bangladesh's inspiring story of resilience. For more than 118 years, the Bank has been dedicated to driving commerce and growth without leaving people behind, negatively impacting the planet, or creating divisions that diminish our sense of community. As an engine of development, the Bank is committed to building and maintaining defences against financial crime, reads the release.