Regulatory Alerts2012-09-16
Added · Updated
BFIU Circular No. 04: Guidance Notes on Prevention of Money Laundering and Terrorist Financing
The Bangladesh Financial Intelligence Unit requires all financial institutions operating in Bangladesh to develop and submit their own internal guidance notes by October 31, 2012, and to implement the necessary measures by December 30, 2012. These internal notes must address the specific business scope, nature, and legal framework of each institution to mitigate money laundering and terrorist financing risks, using the BFIU's guidance notes as minimum standards. This requirement applies to all financial institutions defined as reporting entities under Section 2(c) of the Money Laundering Prevention Act, 2012.
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