Bb Guideline

In: Business and Management

Submitted By Mahdia
Words 25043
Pages 101
MANAGING CORE RISKS OF FINANCIAL INSTITUTIONS

GUIDANCE NOTES ON PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING

16 September, 2012

Bangladesh Financial Intelligence Unit
BANGLADESH BANK

FOCUS GROUP
Coordinator Mr. Md. Eskander Miah Deputy General Manager Bangladesh Financial Intelligence Unit Bangladesh Bank Member Mr. Rafiqul Islam Joint Director Bangladesh Financial Intelligence Unit Bangladesh Bank Mr. Kamal Hossain Deputy Director Bangladesh Financial Intelligence Unit Bangladesh Bank Mr. Md. Iqbal Hossain Deputy Director Department of Financial Institutions and Markets Bangladesh Bank Mr. Md. Ferdous Zaman Sardar Assistant Director Bangladesh Financial Intelligence Unit Bangladesh Bank

Preface
In response to the growing concern about money laundering and terrorist activities, the international community has acted on many fronts. The United Nations (UN) was the first international organization to undertake significant actions to fight against money laundering through adopting several conventions and resolutions. Following UN action, the Financial Action Task Force on Money Laundering (FATF) was formed by G-7 countries in 1989 as the first intergovernmental body which has recommended forty recommendations to combat money laundering in 1990. In October 2001, the FATF expanded its mandate to deal with the funding of terrorist acts and terrorist organization, and it took the important step of creating the Eight (later expanded to Nine) Special Recommendations on Terrorist Financing. These 40+9 Recommendations have been endorsed by over 180 countries and are universally recognized as international standard for AML/CFT program. To oversee the implementation of these recommendations in Asia Pacific Region, the Asia/Pacific Group on Money Laundering (APG), FATF-style regional body, was founded in 1997, of which Bangladesh is a founding member. FATF has…...

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