Regulatory Alerts2017-01-19
Added · Updated
BFIU Circular Letter No. 02: Instructions to be followed by Insurance Companies to nominate Chief Anti Money Laundering Compliance Officer (CAMLCO)
The Bangladesh Financial Intelligence Unit (BFIU) clarifies that the Chief Anti-Money Laundering Compliance Officer (CAMLCO) for insurance companies must be selected from the two (2) hierarchical levels immediately below the Chief Executive Officer. Insurance companies are required to submit updated information regarding the appointed CAMLCO to the BFIU within fifteen (15) days and must notify the unit immediately of any future changes to this nomination. This directive supplements previous instructions by defining the specific seniority level required for the role.
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