Regulatory Alerts2018-04-22
Added · Updated
BFIU Circular Letter No. 01: Instructions to be followed by the schedule banks for preserving secrecy of information
The Bangladesh Financial Intelligence Unit (BFIU) mandates that scheduled banks maintain strict confidentiality regarding information exchanged with the BFIU under the Money Laundering Prevention Act, 2012, and the Anti-Terrorism Act, 2009. Banks are prohibited from disclosing any communication with the BFIU to branches or departments, including references to BFIU letters or emails, except when notifying a specific branch of an account freeze or transaction suspension order by citing the relevant legal provision. All responses to BFIU communications must be sent via the designated secure email system or official email addresses, and hard copies are only required when specific information is available or in case of technical issues with digital channels.
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