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The main functions of Anti-Money Laundering Department are to take such actions as are necessary to prevent and combat money laundering and terrorist financing. The legal authority of this department emanates from the Money Laundering Prevention Act, 2009 [Bangla] [English] and Anti-Terrorism Act, 2009. Main functions of this Department are as follows: |
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| 1. |
Receive and analyse Suspicious Transaction Reports (STRs) and Cash Transaction Reports (CTRs) received from the banks and other reporting organizations. |
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| 2. |
Maintain a database of all ‘suspicious transaction reports’ and ‘cash transaction reports’ and related information. |
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Collect information from the reporting organizations about the transactions where there is reasonable grounds to suspect that the transaction is involved with money laundering and terrorist financing. |
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Issue necessary directions to reporting organizations for taking counter measures to combat money laundering and terrorist financing activities from time to time. |
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| 5. |
On-site and off-site supervision of the reporting organizations to ensure compliance of rules/regulations/directives issued by the department. |
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| 6. |
Impart training for the officials of the reporting and other related organizations or institutions as Bangladesh Bank considers necessary. |
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| 7. |
Provide information related to money laundering or suspicious transaction to the investigating organization subject to compliance of existing laws. |
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| 8. |
The Financial Intelligence Unit (FIU) of the Anti-Money Laundering Department provides and collects information to/from other FIUs under bilateral arrangements. |
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Work as the secretariat of Inter Agency task Force for Stolen Asset Recovery (StAR). |
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| 10. |
Carry out any other related functions to prevent and combat money laundering and terrorist financing. |
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