Bangladesh Financial Intelligence Unit
The Central Agency of Bangladesh to Fight Against Money Laundering and Terrorist Financing
APG

The Asia/Pacific Group on Money Laundering is an inter-governmental organisation focused on ensuring that its members effectively implement the international standards against money laundering, terrorist financing and proliferation financing of weapons of mass destruction.

The APG has grown considerably since 1997 and is part of a global network of similar bodies, referred to as Financial Action Task Force-Style Regional Bodies (FSRBs) and is the largest in terms of membership numbers (41 member jurisdictions) and geographical size. The APG also has 32 observers (both jurisdictions and supporting organisations) that participate in its programmes and activities.

Bangladesh became a founder member of APG in 1997. The APG has a number of roles as stated in its strategic plan for Bangladesh including:

  • Assessing APG members' compliance with the international anti-money laundering/combating the financing of terrorism (AML/CFT) standards through a programme of mutual evaluations;
  • Supporting implementation of the international AML/CFT standards, including coordinating multi-lateral and bi-lateral technical assistance and training with donor countries and agencies;
  • Conducting research and analysis into money laundering and terrorist financing trends and methods;
  • Participating in, and co-operating with, the international AML/CFT network and contributing to global policy development of the standards through associate membership in the FATF; and
  • Engaging with the private sector to raise awareness in the region on AML/CFT issues. Private sector engagement includes interacting with financial and non-financial institutions, academia and the media

Bangladesh has been participating in the different programs of APG since its inception. Bangladesh has been nominated as co-chair of APG for the period of 2018-2020 for it’s stance and commitment against money laundering and terrorist financing. As per approval of the Bangladesh government Head of BFIU is performing the duties of Co-Chair of the APG. (Read more….)