As the government has already approved a three-year strategic paper for curbing illicit financial flows in the country, Finance Minister AMA Muhith will formally disclose it today.
The minister will disclose the National Strategy for Preventing Money Laundering and Combating Financing of Terrorism for 2015-17 at the fifth National Coordination Committee on Anti-Money Laundering meeting at the finance ministry.
National Strategy for Preventing Money Laundering and Combating Financing of Terrorism for 2015-17 approved in April at the fourth National Coordination Committee on AML meeting.
State agencies will take necessary measures to control domestic and cross-border tax evasion under anti-money laundering acts.
An official of Bank and Financial Institutions Division said, “A total of 15 ministries, divisions and state agencies are going to implement 140 actions under 11 strategies outlined in the ongoing mutual evaluation assessment of Asian Pacific Group (APG) on Bangladesh.”
Bangladesh authority will have to submit the final mutual evaluation report to the APG at the end of the current year. However, the draft report will be reviewed next week when the banking secretary will attend the APG meeting in Australia, said an official.
According to the working paper on the 5th National Coordination Committee, An evaluation team of APG will come to Bangladesh within October 23 this year on a site visit to evaluate the Mutual Evaluation Assessment report.
A total of 15 government agencies responsible for the implementation of the actions are-Bank and Financial Institution Division, Ministry of Finance, Home Affairs, Parliamentary Affairs, Law, Commerce, National Board of Revenue, Anti-Corruption Commission, Coast Guard Bangladesh, Bangladesh Boarder Guard, Bangladesh Securities and Exchange Commission, Police Headquarters, NGO Affairs Bureau and Department of Narcotics Control. A demi-official letter will be served to some 15 government agencies to strengthen anti-money laundering efforts.
“The government will exchange anti-money laundering information with other countries soon after Bangladesh Mutual Evaluation report on Anti-Money Launder activities is approved by APG,” Secretary of Bank and Financial Institutional Division M Aslam Alam told the Dhaka Tribune yesterday.
He also said the cross boarder money launder activities would also be stopped because of the APG action items.