Desk Report
Publish: 15 Mar 2022, 08:30 pm
File Photo
The Suspicious Transaction
Reporting (STR) and Suspicious Activity Reporting (SAR) increased by 43.67 per
cent in the fiscal year 2020-2021, said a report of Bangladesh Financial
Intelligence Unit (BFIU) on Tuesday.
According to the report, there
were 30,657 STRs and SARs in FY 2019-20, and the number increased to 5280
in the FY 2020-21.
The BFIU annual report was
presented at a view-exchange meeting at the Jahangir Alam Conference Hall,
Central Bank Head Office.
BFIU chief Md. Masud Biswas
presided over the function. The meeting was attended by Md. Serajul Islam,
Executive Director and Spokesperson of Bangladesh Bank, Iftekhar Mahmud,
Programmer of BFIU and Ikramul Hasan, Joint Director.
According to the BFIU's annual
report, most of the money transacted illegally was through banking channels.
The amount of money transactions through other means was also immense.
Masud said that STR and SAR increased
due to improving the capacity of BFIU and awareness of reporting the
organizations.
Increasing the number of STR and
SAR does not mean rising corruption or illegal money rather it is happening due
to the rising reporting tendency and watch by BFIU.
He said 26.1 per cent of the
suspicious transactions were identified from the reporting of news media, he
said.
BFIU chief Masud said, "This
year we are going to celebrate the 20th anniversary of BFIU, which is
appreciated worldwide for improving technology and money laundering
identification systems.”_UNB
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