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Dhaka Tribune

CID chief: Stakeholders co-operation needed to fight money laundering, cybercrime

  • Need for active participation of stakeholders from all sectors
  • CID currently conducting training sessions, workshops
Update : 24 Feb 2024, 03:06 PM

Criminal Investigation Department (CID) Chief Mohammad Ali Mia emphasized the importance of active participation and cooperation of various stakeholders along with law enforcement agencies to prevent money laundering and cybercrime.

The CID chief made the remarks at a day-long international seminar on "Combatting Mechanism against Digital Exploitation for Financial Gain" at the CID headquarters on Thursday, according to a press release.

“Prevention of money laundering and cybercrime requires the active participation and cooperation of stakeholders from all sectors of society including the private sector, civil society, academia, international organisations, as well as law enforcement agencies,” the CID chief said.

Citing that CID is currently conducting a series of training sessions and workshops to enhance the capacity and professionalism of investigating officers, he called upon the US Embassy and FBI to assist in furthering capacity building.

United States Secret Service Illicit Finance Technical Advisor Derek Odney detailed cryptocurrency, blockchain and blockchain transparency in his keynote presentation on financial crimes.

He also highlighted the value of Bitcoin in today's world, including accessing data structuring and hash generators for the cryptocurrency Bitcoin.

Federal Bureau of Investigation (FBI) Special Agent Robert J Cameron, discussed the importance of domain takedown in combating cyber and money laundering crimes and some important open-source free tools for domain takedown in his keynote presentation on cybercrimes.

At this time, Michael Hintz of the Law Enforcement Assistance Administration (LEAA) said in his speech that the United States will work with Bangladesh to combat money laundering and cybercrime.

Philippines’ Capiz State University Program Chair Jason B Capundan joined virtually and briefly described the anti-money laundering experience and activities of the Anti-Money Laundering Council from the context of the Philippines.

Prof Khan Sarfaraz Ali highlighted the success of CID in combating money laundering.

He outlined some of the challenges faced by investigating officers in investigating money laundering cases and proposed an action plan to address the challenges.

The CID investigation supervisor, investigators and other senior officials participated in the seminar.

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