US advices separate anti-money laundering act for capital market

Dhaka, Bangladesh (BBN)– The United States has asked the Bangladesh government to enact a separate Anti-money laundering Act for capital market and make the existing Money Laundering laws more stringent, officials said.

A three-member delegation of US Department of Justice at a meeting with top government officials said the government should be tough in tightening the anti-money laundering and anti-terrorism acts to avert any international negative campaign against Bangladesh.

Fredrick Renold of US Department of Justice led the US team at the talks, held at the central bank of Bangladesh in the capital Dhaka.

The meeting decided to incorporate stringent clauses in the existing Anti-Money Laundering Act with enhancing the punishment for individuals and institutions for money laundering offences, according to reports.

BBN/SSR/ANS-05Oct10-12:33 am (BST) 

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