BFIU holds CAMLCO conference in Cox’s Bazar

A two-day conference of chief anti-money laundering compliance officers of scheduled banks was held in Cox's Bazar on 8–9 May, organised by the Bangladesh Financial Intelligence Unit.

The conference aimed to strengthen the role of banks in combating money laundering and terrorist financing, as well as enhance overall awareness and compliance.

The event took place at a local hotel in Cox's Bazar and was attended by senior officials from the BFIU and Bangladesh Bank.

Managing directors and chief executive officers, and CAMLCOs of scheduled banks across the country also participated in the conference.

BFIU Head Iqtiaruddin Md Mamun attended the event as the chief guest.

In his address, he emphasised the importance of integrity, governance, digital transformation and collaboration in strengthening Bangladesh's anti-money laundering and counter-terrorist financing framework.

He said the expansion of digital banking services has significantly improved financial inclusion, but has also contributed to the rise of financial crimes such as e-commerce fraud, trade-based money laundering and cyber risks.

He stressed the need for effective corporate governance, technology-driven monitoring systems, risk-based compliance and timely reporting of suspicious transactions.

He further highlighted the importance of coordinated efforts among banks, regulators and law enforcement agencies to build a transparent, secure and sustainable financial system.

The chief guest also provided guidance on necessary preparations for Bangladesh's upcoming mutual evaluation by the Asia/Pacific Group on Money Laundering for the 2027–28 cycle, emphasising the urgency of strengthening institutional readiness.

The inaugural session was chaired by the Deputy Head of BFIU Mofizur Rahman Khan Chowdhury.

Association of Bankers, Bangladesh Chairman Mashrur Arefin attended the programme as a special guest.

The theme of the conference was "Strengthening AML/CFT Compliance through Integrity, Governance, Digital Transformation and Collaboration."

The conference featured keynote presentations and technical sessions on several critical issues, including challenges in the recovery of laundered assets, risk-based supervision, prevention of loan fraud and capital flight, ethical practices in compliance, and preparation for mutual evaluation.

Panel discussions included representatives from BFIU, Bangladesh Bank and scheduled banks, along with officials from the Anti-Corruption Commission, Bangladesh Police, Criminal Investigation Department and the Central Intelligence Cell of the National Board of Revenue.

The conference emphasised the importance of ensuring good governance in the banking sector, addressing emerging technology-driven risks, advancing digital transformation and strengthening inter-agency coordination to combat financial crimes effectively.

Special focus was also given to mitigating risks in lending and investment, including fraudulent entities, fake collateral, fund diversion and wilful default.

Participants highlighted the importance of robust customer due diligence, know-your-customer compliance, transaction monitoring, and timely submission of suspicious transaction reports and suspicious activity reports.

Recognising the growing cyber and technological risks associated with the expansion of digital financial services, the conference called for enhanced capacity building, training and adoption of modern technologies by relevant officials.

The conference concluded with a strong call for collective efforts from all stakeholders and the development of a sustainable compliance culture to effectively combat money laundering and terrorist financing in Bangladesh.