Staff reporter:
In a significant stride toward bolstering Bangladesh’s financial regulatory landscape, the Bangladesh Financial Intelligence Unit (BFIU) released its Annual Report 2023–24 at a high-profile event held on Tuesday at the Jahangir Alam Conference Hall, Bangladesh Bank Head Office. The event, titled a “View Exchange Meeting,” was attended by an esteemed assembly of policymakers, law enforcement officials, financial stakeholders, and media representatives, underscoring the national importance of financial transparency and anti-money laundering reforms.
• High-level event underscored anti-money laundering and financial transparency.
• 22.96% rise in STRs and SARs shows improved vigilance.
• BFIU submitted 114 FIRs and 1,220 info exchanges.
• Joint Investigation Team formed for complex asset recovery cases.
• Global partnerships expanded with StAR, USDOJ, ICAR, and IACCC.
• Governor stressed ethics, data, and national financial credibility enhancement.
The session was chaired by Mr. A.F.M. Shahinul Islam, Chief Officer of the BFIU, and graced by Dr. Ahsan H. Mansur, Governor of Bangladesh Bank, as the Chief Guest. In their speeches, the dignitaries emphasized the BFIU’s pivotal role in combating illicit financial flows and fortifying the country’s global standing in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF).
In his opening remarks, Mr. Islam reiterated that the BFIU’s core values of transparency, accountability, and strategic foresight drive the agency’s ongoing mission. He stressed that the Annual Report is not merely a statistical record but a strategic blueprint offering policy insights and directional frameworks. “This document reflects our determination to meet and exceed global AML and CTF standards through intelligence-led enforcement and stakeholder collaboration,” he said.
The BFIU registered a 22.96% increase in Suspicious Transaction Reports (STRs) and Suspicious Activity Reports (SARs), totaling 17,345 reports for FY 2023–24. This was attributed to intensive training programs, expanded surveillance networks, and enhanced compliance measures across financial institutions.
BFIU submitted 114 Financial Intelligence Reports (FIRs) to law enforcement bodies and coordinated 1,220 information exchanges—marking a 13.91% rise over the previous fiscal year. These efforts have led to the formation of a Joint Investigation Team (JIT) to expedite complex asset recovery missions.
Recognizing the international scope of financial crimes, BFIU expanded its network through partnerships with organizations such as: The Stolen Asset Recovery (StAR) Initiative of the World Bank, The U.S. Department of Justice (USDOJ) and The International Centre for Asset Recovery (ICAR), The International Anti-Corruption Coordination Centre (IACCC).
Additionally, a prominent international legal firm has been appointed to assist in cross-border recovery litigation, demonstrating Bangladesh’s serious commitment to financial justice on a global scale.
Bangladesh improved by 13 positions in the 2024 Basel Anti-Money Laundering Index, moving from 46th to 59th globally. This leap highlights the positive impact of BFIU reforms and Bangladesh’s evolving position as a regional compliance leader.
A comprehensive strategic presentation by Mr. Muhammad Anisur Rahman, Director of BFIU, introduced BFIU’s forward-looking roadmap, focusing on: AI-powered analytics and real-time monitoring systems, Digital forensic enhancements to track illicit flows, Legal frameworks to combat cryptocurrency misuse and cross-border laundering Rahman emphasized that embracing digital innovations is critical to confronting threats in a fast-evolving financial ecosystem.
During the interactive session, journalists questioned the rising use of digital wallets and crypto-assets in illicit transactions. Concerns were also raised about the challenge of Trade-Based Money Laundering (TBML).
Mr. Islam acknowledged these emerging risks and assured the audience that BFIU is developing bilateral information-sharing agreements and adaptive regulatory frameworks to counter them effectively.
In his concluding remarks, Governor Dr. Ahsan H. Mansur praised the BFIU for its data-driven, ethics-centric approach to financial surveillance. He framed financial integrity not just as a legal necessity, but a moral obligation to safeguard national economic credibility.
“The fight against financial crime is not merely a technical endeavor—it’s a duty to the nation,” said Dr. Mansur. “This report is our roadmap toward a secure, transparent, and resilient financial future.”
The unveiling of the BFIU Annual Report 2023–24 marks a pivotal milestone in Bangladesh’s pursuit of financial transparency, international credibility, and systemic reform. With a vision rooted in technology, collaboration, and accountability, the BFIU continues to shape a future-ready financial architecture, positioning Bangladesh as a model nation in the fight against financial crime.
