Regulatory Alerts2020-02-09
Added · Updated
PSD Circular Letter No. 02: Ensuring access to information of the transaction through MFS and providing necessary assistance
Mobile Financial Service (MFS) providers are required to supply detailed digital money receipts for all cash-in and cash-out transactions to the Anti-Corruption Commission (ACC) upon request for investigation or inquiry. Providers must also ensure that ACC officers can access customer and transaction data from their databases in real time. Additionally, providers are instructed to take appropriate measures to raise public awareness regarding the prevention of abnormal transactions conducted through multiple accounts.
Payment Systems Department Bangladesh Bank Head Office, Dhaka. PSD Circular Letter No. 02/2020 Date: 26 Magh 1426 9 February 2020 Chief Executive Officer / Managing Director All Mobile Financial Services (MFS) Providers Head Office Dhaka
Dear Sir,
Regarding ensuring access to information of customers and transactions of Mobile Financial Services and providing all kinds of assistance.
In accordance with the decision taken at the meeting held on 21-11-2019 at the Anti-Corruption Commission (ACC), you are hereby advised as follows:
- All concerned MFS provider institutions shall provide detailed information of digital money receipts for all types of cash-in/cash-out of MFS accounts to the ACC for the purpose of its inquiry/investigation;
- Ensure real-time access to information of customers and transactions of MFSs from the database by ACC officials;
- The concerned providers shall take appropriate steps to increase public awareness regarding the prevention of abnormal transactions through multiple accounts.
(Muhammad Badujjaman Dider) Deputy General Manager Phone: 029530611