• Monday, September 01, 2014

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Financial Action Task Force

BB installs software to detect suspicious transactions

The country yesterday took a major step in its fight against money laundering and terrorist financing after it installed UN-accredited software to combat suspected financial transactions. The move also fulfils part of the promises made to the Financial Action Task Force, the global anti-money laundering watchdog, for Bangladesh's graduation from the grey list. The software, goAML, will enable Bangladesh Financial Intelligence Unit, the central bank's anti-money laundering wing, to receive cash transaction and suspected transaction reports and complaints from reporting agencies...

Hurdles in business with the world goes

Bangladesh has come out of the grey list of Financial Action Task Force, a global watchdog on money laundering, meaning it will reduce the costs and timeline of the country's financial transactions with the rest of the world. “We were trying to get out of the list for five years, and finally we have succeeded,” Finance Minister AMA Muhith said at a press conference in the capital yesterday. The grey list is an index of countries identified by the FATF as...

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