Bangladesh Financial Intelligence Unit
Bangladesh Financial Intelligence Unit (BFIU) is the central authority responsible for combating money laundering (ML), terrorist financing (TF), and the financing of proliferation (PF) of weapons of mass destruction (WMD). It analyzes Suspicious Transaction/Activity Reports (STRs/SARs), Cash Transaction Reports (CTRs), and other relevant information received from reporting organizations (ROs) and various sources. Based on this analysis, BFIU generates financial intelligence and disseminates it to appropriate competent authorities. The unit also supervises ML, TF, and PF compliance of ROs and is mandated to exchange related information with its foreign counterparts.
Establishment
Bangladesh was the first country in South Asia to enact the Money Laundering Prevention Act in 2002 and to establish a dedicated authority for its implementation. Accordingly, the Financial Intelligence Unit (FIU) of Bangladesh was established in June 2002 within Bangladesh Bank, the country’s central bank, under the name Anti Money Laundering Department.
Subsequently, under the provisions of the Money Laundering Prevention Act, 2012, the unit was restructured and renamed as the Bangladesh Financial Intelligence Unit (BFIU) on 25 January 2012. The Act conferred operational independence upon BFIU, enabling it to function effectively as the central agency for combating money laundering, terrorist financing, and proliferation financing.
BFIU operates to ensure compliance with the standards set by the Financial Action Task Force (FATF) and functions in accordance with the relevant provisions of the Money Laundering Prevention Act, 2012, the Anti-Terrorism Act, 2009, and the rules, regulations, and directives issued under these legislations.
Vision
To establish a robust and resilient financial system in Bangladesh that effectively deters money laundering, terrorist financing, proliferation financing, and other related offences.
Mission
To prevent money laundering, terrorist financing, proliferation financing, and related offences by establishing effective legal, administrative, and judicial mechanisms through the following initiatives:
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Continuous enhancement of AML & CFT legal and regulatory frameworks in line with evolving risks and international standards;
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Promoting widespread awareness of AML & CFT issues among regulators, law enforcement agencies, reporting organizations, and the general public through workshops, seminars, and public campaigns;
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Strengthening the human resources and infrastructural capacity of BFIU to ensure effective intelligence management;
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Enhancing the detection and reporting capabilities of reporting organizations across various sectors to improve compliance;
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Strengthening coordination and cooperation among BFIU, law enforcement agencies, and the judiciary to expedite investigation, prosecution, and adjudication of ML and TF offences; and
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Expanding cooperation with foreign FIUs and regional and global bodies to improve information exchange, share best practices, and enhance AML & CFT standards.
Objectives
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To establish and maintain an effective and fully operational Financial Intelligence Unit;
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To play a pivotal role in ensuring a strong AML & CFT regime in Bangladesh;
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To adopt modern technologies and develop advanced IT infrastructure and software for a robust reporting environment;
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To ensure smooth information flow and active participation of all stakeholders in AML & CFT initiatives;
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To contribute actively to global AML & CFT efforts and ensure maximum international cooperation;
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To identify and address emerging threats, methods, and techniques related to money laundering, terrorist financing, and proliferation financing of weapons of mass destruction; and
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To create nationwide awareness on money laundering and terrorist financing.
Functions
BFIU performs the following key functions:
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Receive Suspicious Transaction/Activity Reports (STRs/SARs) from reporting organizations and Cash Transaction Reports (CTRs) from banks and financial institutions, as well as complaints from various sources;
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Analyze STRs/SARs, CTRs, and other relevant information received from reporting organizations and external sources;
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Produce financial intelligence and disseminate it to appropriate investigating agencies for further action;
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Maintain a centralized database of STRs/SARs, CTRs, and related information;
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Issue directives, circulars, and guidance notes to reporting organizations to prevent ML, TF, and PF activities;
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Conduct on-site and off-site supervision to ensure compliance with relevant laws, rules, regulations, and directives;
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Monitor the implementation of United Nations Security Council Resolutions, including UNSCR 1267, its successor resolutions, UNSCR 1373, and resolutions related to proliferation financing;
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Provide training to officials of reporting organizations, investigating agencies, prosecutors, regulators, and other relevant institutions;
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Sign Memoranda of Understanding (MoUs) with foreign FIUs for the exchange of financial intelligence related to ML, TF, and PF;
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Exchange information with foreign FIUs under bilateral and multilateral arrangements;
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Cooperate with international organizations such as FATF, APG, Egmont Group, World Bank, IMF, ADB, and UNODC on AML & CFT matters;
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Act as the secretariat for UN bodies, the National Coordination Committee (NCC), and the Working Committee on AML & CFT, and facilitate implementation of their decisions;
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Serve as the secretariat of the inter-agency Task Force for Stolen Asset Recovery (StAR);
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Perform functions related to the Central Task Force for preventing illegal Hundi operations, illicit fund flows, and money laundering, and monitor implementation of its decisions;
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Organize regular coordination meetings with the Anti-Corruption Commission, Bangladesh Police, regulators, self-regulatory bodies, and other relevant agencies;
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Carry out other activities necessary to prevent and combat money laundering, terrorist financing, and proliferation financing; and
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Promote public awareness on ML, TF, and PF across the country.
| 2023-05-30 | BFIU Circular No. 28: Instructions to be followed by the Financial Institutions for prevention of money laundering, terrorist financing and proliferation financing | Not available | Bangla Download |
| 2022-04-18 | BFIU Circular No. 27: Instructions to be followed by insurance companies for prevention of money laundering, terrorist financing and proliferation financing | Not available | Bangla Download |
| 2020-06-16 | BFIU Circular No. 26: Instructions to be followed by the schedule banks for prevention of money laundering, terrorist financing and proliferation financing | Not available | Bangla Download |
| 2020-01-08 | BFIU Circular No. 25: Issuance of Guidelines on Electronic Know Your Customer (e-KYC) | Not available | Bangla Download |
| 2019-12-10 | BFIU Circular No. 24: Regarding Guidelines for Prevention of Trade Based Money Laundering | Not available | Bangla Download |
| 2019-01-31 | BFIU Circular No. 23: Instructions regarding Internal Control and Foreign Branches and Subsidiaries of “Financial Institution Group” | Not available | Bangla Download |
| 2019-01-31 | BFIU Circular No. 22: Instructions regarding Exchange of Information among the reporting organizations | Not available | Bangla Download |
| 2019-01-30 | BFIU Circular No. 21: Amendment of Section 9 of BFIU Circular- 19 dated 17/09/2017 | Not available | Bangla Download |
| 2017-09-17 | BFIU Circular No. 20: Instructions to be followed by the institutions engaged in the mobile financial services for prevention of money laundering, terrorist financing and proliferation financing. | Not available | Bangla Download |
| 2017-09-17 | BFIU Circular No. 19: Instructions to be followed by the schedule banks for prevention of money laundering, terrorist financing and proliferation financing. | Not available | Bangla Download |
| 2015-10-19 | BFIU Circular No. 18 : Master Circular regarding Instructions to be followed by Capital market Intermediaries on preventing Money Laundering & Terrorist Financing. | Not available | Bangla Download |
| 2015-10-07 | BFIU Circular No. 17 : Instructions to be followed by co-operative societies on preventing money laundering & terrorist financing | Not available | Bangla Download |
| 2015-09-10 | BFIU Circular No. 16 : Master Circular regarding Instructions to be followed by the Insurance Companies on preventing Money Laundering & Terrorist Financing | Not available | Bangla Download |
| 2015-09-09 | BFIU Circular No. 15: Instructions to be followed by Money Changers to comply with the provisions contained in MLPA, 2012 & ATA, 2009 | Not available | Bangla Download |
| 2015-09-02 | BFIU Circular No. 14: Instructions to be followed by NGO/NPOs to comply with the provisions contained in MLPA, 2012 & ATA, 2009 | Not available | Bangla Download |
| 2015-07-09 | BFIU Circular No. 13: Circular regarding Instructions to be followed by the real estate developer, dealer in precious metals or stones, trust and company service provider and lawyer, notary, other legal professional and accountant for the prevention of Money Laundering & Terrorist Financing | Not available | Bangla Download |
| 2015-06-29 | BFIU Circular No. 12 : Master Circular regarding Instructions to be followed by the Financial Institutions for the prevention of Money Laundering & Terrorist Financing | Not available | Bangla Download |
| 2015-05-25 | BFIU Circular No. 11: Submission of cash transaction report (CTR) – Financial Institutions | Not available | Bangla Download |
| 2014-12-28 | BFIU Circular No. 10 : Master Circular regarding Instructions to be followed by the Scheduled banks for the prevention of Money Laundering & Terrorist Financing | Not available | Bangla Download |
| 2013-11-20 | BFIU Circular No. 09: Guidelines on Prevention of Money Laundering and Terrorist Financing for NPO/NGO Sector | English Download | Bangla Download |
| 2013-10-29 | BFIU Circular No. 08 : Guidelines on Prevention of Money laundering & Combating Financing of Terrorism for Designated Non- Financial Businesses and Professions | Not available | Bangla Download |
| 2013-07-14 | BFIU Circular No. 07 : Anti Terrorism (Amendment) Act, 2013 | Not available | Bangla Download |
| 2012-12-30 | BFIU Circular No. 06: Instructions to be followed by Capital Market Intermediaries for compliance of the provisions contained in the Money Laundering Prevention Act. 2012 and Anti Terrorism Act, 2009(Including amendment of 2012) | English Download | Bangla Download |
| 2012-12-17 | BFIU Circular No.05: Instructions to be followed for international and domestic wire transfer | Not available | Bangla Download |
| 2012-09-16 | BFIU Circular No. 04 : Regarding Guidance Notes on Prevention of Money Laundering and Terrorist Financing | Not available | Bangla Download |
| 2012-08-02 | BFIU Circular No. 03: Submission of cash transaction report (CTR) | Not available | Bangla Download |
| 2012-03-15 | BFIU Circular No. 02 : Regarding “Money Laundering Prevention Act, 2012” and Amendment of “Anti Terrorism Act, 2012” | Not available | Bangla Download |
| 2011-09-27 | AML Circular No. 29 : Guidance notes on anti money laundering and combating financing of terrorism for money changers | Not available | Bangla Download |
| 2011-07-05 | AML Circular No. 28 : Guidance notes on AML&CFT for insurance companies | Not available | Bangla Download |
| 2011-06-15 | AML Circular No. 27 : Instructions to be followed by the Non Profit Organizations and Non Government Organizations to comply with the provisions of Money Laundering Prevention Act, 2009 | English Download | Bangla Download |
| 2010-09-30 | AML Circular No. 26 : Inclusion of new reporting agencies and predicate offenses in Money Laundering Prevention Act, 2009 | English Download | Bangla Download |
| 2010-03-03 | AML Circular No. 24: Instructions to be followed for compliance of the provisions of Money Laundering Prevention Act, 2009 and Anti Terrorism Act, 2009. | English Download | Bangla Download |
| 2010-02-23 | AML Circular No. 23: KYC Procedures for accounts opened before 30th April, 2002 | English Download | Bangla Download |
| 2009-04-21 | AML Circular No. 22: “Anti Terrorism Act, 2009” | Not available | Bangla Download |
| 2009-04-21 | AML Circular No. 21: “Money Laundering Prevention Act, 2009” | Not available | Bangla Download |
| 2008-08-14 | AML Circular No. 20: Instructions to the Money Changers for compliance of the Money Laundering Prevention Ordinance, 2008 and Anti Terrorism Ordinance, 2008 | English Download | Bangla Download |
| 2008-08-14 | AML Circular No. 19 : Instructions to the Banks and FIs for compliance of the Money Laundering Prevention Ordinance, 2008 and Anti Terrorism Ordinance, 2008 | English Download | Bangla Download |
| 2008-08-10 | AML Circular No. 18 : Instructions to the Insurance companies for compliance of the Money Laundering Prevention Ordinance, 2008 | English Download | Bangla Download |
| 2008-06-29 | AML Circular No. 17: Anti Terrorism Ordinance, 2008 | Not available | Bangla Download |
| 2008-04-29 | AML Circular No 16: Money Laundaring Prevention Ordinance, 2008 | Not available | Bangla Download |
| 2008-03-24 | AML Circular No 15: Instruction to be followed regarding compliance of Self Assessment and Independent Testing Procedures Under Para 6.5 and 6.6 respectively of Guidance Notes on Prevention of Money Laundering. | Not available | Bangla Download |
| 2007-09-25 | AML Circular No 14: Instructions for opening and maintaining the accounts of Politically Exposed Persons ( PEPs) | English Download | Bangla Download |
| 2007-09-24 | AML Circular No 13: Submission of cash transaction report (CTR) | English Download | Bangla Download |
| 2007-09-20 | AML Circular No 12: Money Laundering Prevention (amendment) Ordinance, 2007 | English Download | Bangla Download |
| 2007-02-20 | AML Circular No. 11: Cooperation in conducting investigation by the law enforcing agencies and compliance of freezing/attachment order under the Special Powers Rules, 2007. | English Download | Bangla Download |
| 2006-02-16 | AML Circular No. 10 : Regarding Submission of Cash Transactions Report (CTR) | English Download | Bangla Download |
| 2005-12-29 | AML Circular No. 09 : Regarding Submission of Cash Transactions Report (CTR) | English Download | Bangla Download |
| 2005-12-21 | AML Circular No. 08 : Regarding Submission of Cash Transactions Report (CTR) | English Download | Bangla Download |
| 2005-08-14 | AML Circular No. 7 Correspondent Banking | English Download | Bangla Download |
| 2005-07-24 | AML Circular No. 6- Regarding KYC Procedures for the accounts opened before 30 April 2002 | English Download | Bangla Download |
| 2003-05-22 | AML Circular No. 5 : Amendment of Money Laundering Prevention Act, 2002 | English Download | Bangla Download |
| 2002-12-23 | AML Circular No. 4 : Co-operation in the investigation of crime related to Money Laundering. | English Download | Bangla Download |
| 2002-12-10 | AML Circular No. 03: Instructions to be followed for compliance of the provisions contained in the Money Laundering Prevention Act, 2002. | English Download | Bangla Download |
| 2002-07-17 | AML Circular No. 2 : Instructions to be followed for compliance of the provisions contained in the Money Laundering Prevention Act, 2002 | English Download | Bangla Download |
2002