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BRAC Bank organizes AML conference on contemporary risks & challenges for its officials

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  • Update Time : মঙ্গলবার, নভেম্বর ২৮, ২০২৩,

Staff Reporter, Dhaka : BRAC Bank has organized an Anti-Money Laundering (AML) Conference on ‘Contemporary Risks & Challenges’ to increase its employees’ knowledge of AML issues.

Md. Masud Biswas, Head of Bangladesh Financial Intelligence Unit (BFIU), attended the conference as the chief guest, and Selim R. F. Hussain, Managing Director & CEO of BRAC Bank and Chairman of ABB joined as the special guest. Chowdhury Moinul Islam, Deputy Managing Director & CAMLCO, BRAC Bank, along with around 150 senior officials of the bank attended the daylong conference held at the Convention Hall of Gulshan Shooting Club in Dhaka on November 25, 2023.

Md. Masud Rana, Additional Director; Md. Al-Amin Reiad, Joint Director; Mohammad Ismail Prodhan, Joint Director; BFIU, conducted sessions at the conference as facilitators. They covered a whole range of money laundering and terrorist financing-related issues, typologies and trends, including Risk and Impact of Trade-based and Credit-backed Money Laundering, Online Gambling, Betting, Gaming, Illegal Trading of Cryptocurrency and Foreign Exchange and AML & CFT System Check Inspection and Rating.

Md. Masud Biswas, Head of BFIU, emphasised the prevention of money laundering and terrorist financing due to its adverse impact on our economy and society. He highlighted money laundering in the form of hundi as one of the key reasons for the volatility in FX market in recent times. According to the Head of BFIU, the hundi, however, is now changing its methodology and using online channels for such illegal transfers. He also highlighted the progress and achievement of Bangladesh in the last 20 years in this area because of the support of all concerned.

Commenting on the bank’s strong emphasis on the prevention of money laundering issues, Selim R. F. Hussain, Managing Director and CEO, BRAC Bank; said: “Prevention of money laundering is of utmost importance for BRAC Bank as the bank strives to become the most compliant bank in the country and set governance benchmark in the industry. That is why we have joined hands with BFIU for the capacity building of our employees. With continuous training and awareness initiatives, we aim to become a role model in AML compliance in the banking industry.”

The event was very fruitful for the bank’s employees in becoming aware of the latest trends and typologies of money laundering and understanding their roles in preventing those. As a values-based organization, BRAC Bank invests significantly in people development through various training programmes to help them upskill their knowledge and professional efficiency.

 

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