Dhaka, Bangladesh (BBN) - The central bank of Bangladesh has asked all banks to freeze accounts if they belong to those whose names have come up in the media for alleged involvement in terrorism and terror financing.
The commercial have also been instructed to submit information on all such accounts to the Bangladesh Financial Intelligence Unit (BFIU) of the Bangladesh Bank (BB).
The BFIU is responsible for analysing suspicious transaction reports, cash transaction reports and information related to money laundering received from reporting agencies and other sources.
Some banks have already prepared their lists of individuals involved in terrorism and terror funding in line with the BB’s latest instructions, according to insiders at the banks.
The lists have already sent their branches across the country for taking necessary actions in this connection.
Information on their accounts, if found, would be sent to the BFIU as per the directives, they added.
The central bank had arranged a meeting with the chief executive officers (CEOs) and CAMLCOs (chief anti-money laundering compliance officials) of all banks between July 19 and 20 at its headquarters in Dhaka after Gulshan cafe and Sholakia Eid ground terror attacks.
After the meeting, the BB a letter to all banks asking them to freeze the (suspicious) accounts immediately, provide account information and produce transaction history of their accounts.
The banks have been instructed to take the highest level of precautionary measures so that no one can use the banking channel for terror financing, both from home and abroad.
As part of the financial security measures, the banks have been asked to form special teams to evaluate the overall compliance status on anti-money laundering and anti-terror financing position in the context of emerging issues, including mobile banking and cyber security.
The BB also asked the bankers to submit their reevaluation reports on AML-CFT to the BFIU of the central bank by October 2016.
The bankers earlier instructed to submit suspicious transaction report (STR) and cash transaction report (CTR) to the BFIU timely to help curb the money-laundering-and terror-financing offences.
Besides, the central bank asked the bankers to comply with 'know your customer (KYC)' provision properly to check illegal fund transfer.
The bankers have also been instructed to check use of fake ID for opening any bank account alongside monitoring the flow of inward remittance from multiple sources for a same person.
BBN/SSR/AD